CME Group (NASDAQ:CME) Price Target Raised to $180.00

CME Group (NASDAQ:CME) had its target price upped by Bank of America from $177.00 to $180.00 in a research note released on Thursday morning, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on CME. Piper Sandler restated an overweight rating and set a $225.00 price objective on shares of CME Group in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods lifted their price target on CME Group from $212.00 to $213.00 and gave the stock a market perform rating in a report on Thursday, July 25th. Barclays upped their price objective on CME Group from $208.00 to $209.00 and gave the company an equal weight rating in a report on Thursday, July 25th. Royal Bank of Canada began coverage on CME Group in a report on Friday, September 27th. They set a sector perform rating and a $235.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of CME Group from $187.00 to $191.00 and gave the company an underweight rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $213.77.

CME Group Price Performance

Shares of CME opened at $224.43 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $212.17 and its 200 day simple moving average is $207.69. CME Group has a 1-year low of $190.70 and a 1-year high of $226.78. The company has a market cap of $80.81 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 8.74 and a beta of 0.55.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.03. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $2.30 earnings per share. CME Group’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts forecast that CME Group will post 9.94 earnings per share for the current fiscal year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Monday, September 9th. CME Group’s payout ratio is presently 52.33%.

Insider Transactions at CME Group

In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bryan T. Durkin sold 7,593 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the sale, the director now directly owns 55,607 shares in the company, valued at approximately $11,932,706.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CME Group

Hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in shares of CME Group during the first quarter valued at $28,000. Y.D. More Investments Ltd bought a new position in shares of CME Group during the second quarter worth about $36,000. McClarren Financial Advisors Inc. lifted its stake in shares of CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 78 shares during the period. Asset Dedication LLC boosted its holdings in CME Group by 515.2% in the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 170 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in CME Group during the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Company Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.