Wall Street Zen upgraded shares of CME Group (NASDAQ:CME – Free Report) from a strong sell rating to a sell rating in a research report report published on Saturday morning.
CME has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Barclays cut their price objective on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Erste Group Bank lowered shares of CME Group from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $316.00 to $323.00 in a research note on Thursday, June 11th. Finally, Keefe, Bruyette & Woods upgraded shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, June 18th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $288.56.
Check Out Our Latest Stock Analysis on CME
CME Group Price Performance
CME Group (NASDAQ:CME – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 earnings per share. Equities research analysts expect that CME Group will post 12.27 EPS for the current fiscal year.
CME Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, September 9th. CME Group’s payout ratio is 44.11%.
Insider Buying and Selling
In related news, Director William R. Shepard bought 325 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were bought at an average price of $230.57 per share, with a total value of $74,935.25. Following the completion of the transaction, the director directly owned 260,442 shares of the company’s stock, valued at $60,050,111.94. This represents a 0.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.
Institutional Investors Weigh In On CME Group
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of CME Group by 11.5% during the 1st quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 1,037 shares during the period. Marshall Wace LLP increased its holdings in CME Group by 103.1% in the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 121,707 shares during the last quarter. Federated Hermes Inc. raised its position in CME Group by 1,325.2% in the second quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after purchasing an additional 21,918 shares during the period. Nebula Research & Development LLC purchased a new stake in CME Group in the second quarter valued at approximately $992,000. Finally, The Manufacturers Life Insurance Company raised its position in CME Group by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock valued at $79,344,000 after purchasing an additional 7,397 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.
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.
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