CME Group (NASDAQ:CME) Stock Price Expected to Rise, TD Cowen Analyst Says

CME Group (NASDAQ:CME) had its target price raised by research analysts at TD Cowen from $288.00 to $290.00 in a report issued on Thursday,MarketScreener reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 7.59% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer lifted their price objective on shares of CME Group from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price objective on shares of CME Group from $283.00 to $287.00 and gave the stock a “market perform” rating in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CME Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of CME Group from $252.00 to $256.00 and gave the company an “underweight” rating in a research report on Tuesday, October 14th. Finally, Piper Sandler boosted their price target on shares of CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CME Group currently has a consensus rating of “Hold” and a consensus target price of $284.53.

CME Group Price Performance

CME Group stock opened at $269.54 on Thursday. The stock has a market cap of $97.14 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 6.18 and a beta of 0.41. The company has a fifty day simple moving average of $266.47 and a 200-day simple moving average of $271.67. CME Group has a 12-month low of $213.94 and a 12-month high of $290.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.05. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.56 billion. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 EPS. Equities analysts expect that CME Group will post 10.49 EPS for the current fiscal year.

Insider Buying and Selling at CME Group

In other news, insider Sunil Cutinho sold 11,896 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total value of $3,229,407.12. Following the completion of the sale, the insider directly owned 17,440 shares of the company’s stock, valued at approximately $4,734,436.80. This represents a 40.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total transaction of $98,475.57. Following the completion of the sale, the insider directly owned 9,508 shares of the company’s stock, valued at $2,470,463.64. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,043 shares of company stock valued at $3,527,956 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of CME Group during the first quarter worth about $25,000. Webster Bank N. A. increased its stake in shares of CME Group by 206.9% during the second quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 60 shares during the period. Caldwell Trust Co increased its stake in shares of CME Group by 116.3% during the third quarter. Caldwell Trust Co now owns 93 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 55 shares during the period. Finally, Highline Wealth Partners LLC increased its stake in shares of CME Group by 84.3% during the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 43 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.

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.