CME Group (NASDAQ:CME) Price Target Lowered to $245.00 at The Goldman Sachs Group

CME Group (NASDAQ:CME) had its price objective lowered by analysts at The Goldman Sachs Group from $267.00 to $245.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “sell” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 9.40% from the company’s previous close.

Other research analysts also recently issued research reports about the company. UBS Group restated an “overweight” rating on shares of CME Group in a research note on Monday, June 15th. Raymond James Financial boosted their price target on shares of CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Piper Sandler set a $320.00 price target on shares of CME Group in a research report on Wednesday, June 17th. Weiss Ratings downgraded shares of CME Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Finally, Argus reiterated a “hold” rating on shares of CME Group in a research note on Wednesday, March 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, CME Group has a consensus rating of “Moderate Buy” and an average price target of $300.94.

CME Group Stock Up 2.5%

NASDAQ:CME traded up $5.37 on Tuesday, hitting $223.95. The stock had a trading volume of 278,910 shares, compared to its average volume of 2,694,057. CME Group has a 1 year low of $218.31 and a 1 year high of $329.16. The firm’s fifty day simple moving average is $271.58 and its two-hundred day simple moving average is $285.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $81.15 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.47 and a beta of 0.21.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.25. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. Analysts predict that CME Group will post 12.28 earnings per share for the current year.

Insider Buying and Selling

In other CME Group news, Director William R. Shepard acquired 325 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $230.57 per share, with a total value of $74,935.25. Following the acquisition, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of CME Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the completion of the transaction, the chief executive officer owned 55,630 shares of the company’s stock, valued at $16,606,111.30. This represents a 38.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

Institutional Trading of CME Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of CME Group by 11.5% during the first quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock valued at $2,660,000 after buying an additional 1,037 shares during the period. Marshall Wace LLP boosted its position in shares of CME Group by 103.1% in the second quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 121,707 shares during the period. Federated Hermes Inc. grew its stake in CME Group by 1,325.2% during the second quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after acquiring an additional 21,918 shares in the last quarter. Nebula Research & Development LLC bought a new stake in CME Group during the 2nd quarter worth approximately $992,000. Finally, The Manufacturers Life Insurance Company increased its holdings in CME Group by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock worth $79,344,000 after acquiring an additional 7,397 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.