CME Group (NASDAQ:CME) Price Target Raised to $295.00

CME Group (NASDAQ:CME) had its target price upped by investment analysts at Royal Bank Of Canada from $282.00 to $295.00 in a report released on Friday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 7.98% from the company’s previous close.

Other analysts also recently issued reports about the stock. Argus cut their target price on shares of CME Group from $308.00 to $295.00 in a research note on Friday, October 31st. Morgan Stanley raised their price objective on CME Group from $312.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Barclays dropped their target price on CME Group from $298.00 to $280.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $275.00 to $300.00 in a research report on Thursday, September 25th. Finally, Rothschild & Co Redburn boosted their price objective on shares of CME Group from $297.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, CME Group currently has a consensus rating of “Hold” and an average price target of $289.18.

CME Group Stock Performance

Shares of NASDAQ CME opened at $273.19 on Friday. The stock’s fifty day simple moving average is $271.55 and its 200 day simple moving average is $272.85. The stock has a market capitalization of $98.51 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.28 and a beta of 0.28. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group has a 52-week low of $224.62 and a 52-week high of $290.79.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.05. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.56 billion. CME Group had a return on equity of 14.61% and a net margin of 58.84%.CME Group’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.68 EPS. As a group, sell-side analysts forecast that CME Group will post 10.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Timothy Francis Mccourt sold 379 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the completion of the sale, the insider directly owned 9,508 shares in the company, valued at approximately $2,470,463.64. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harold Eugene Jr. Ford sold 1,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $263.53, for a total transaction of $263,530.00. Following the completion of the transaction, the director owned 1,091 shares in the company, valued at $287,511.23. The trade was a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,147 shares of company stock valued at $562,079 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CME Group

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its position in shares of CME Group by 1.1% during the 3rd quarter. Allworth Financial LP now owns 56,447 shares of the financial services provider’s stock worth $15,252,000 after purchasing an additional 603 shares during the last quarter. IFP Advisors Inc increased its position in CME Group by 12.7% in the 3rd quarter. IFP Advisors Inc now owns 1,805 shares of the financial services provider’s stock worth $488,000 after buying an additional 204 shares during the period. Groupama Asset Managment lifted its holdings in shares of CME Group by 3.9% during the third quarter. Groupama Asset Managment now owns 236,660 shares of the financial services provider’s stock worth $63,943,000 after buying an additional 8,847 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of CME Group in the third quarter worth $9,837,000. Finally, CIBC Bancorp USA Inc. bought a new position in CME Group during the third quarter worth $14,950,000. 87.75% of the stock is currently owned by institutional investors.

About CME Group

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.