CME Group Inc. (CME) Price Target Increased to $145.00 by Analysts at Wells Fargo & Company
CME Group Inc. (NASDAQ:CME) had its price target increased by Wells Fargo & Company from $130.00 to $145.00 in a research report report published on Wednesday morning. Wells Fargo & Company currently has a market perform rating on the financial services provider’s stock.
Several other research firms also recently issued reports on CME. Jefferies Group LLC restated a buy rating and set a $134.00 price objective (up previously from $128.00) on shares of CME Group in a report on Monday, July 17th. Barclays PLC began coverage on shares of CME Group in a research note on Friday, September 8th. They issued an overweight rating and a $139.00 target price on the stock. BidaskClub raised shares of CME Group from a hold rating to a buy rating in a research note on Wednesday, September 13th. Royal Bank Of Canada set a $130.00 target price on shares of CME Group and gave the company a buy rating in a research note on Monday, June 12th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $133.00 target price on shares of CME Group in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $134.78.
Shares of CME Group (CME) traded up 0.83% during mid-day trading on Wednesday, hitting $138.02. The stock had a trading volume of 988,753 shares. The stock has a 50-day moving average price of $129.96 and a 200 day moving average price of $123.02. CME Group has a 52 week low of $98.95 and a 52 week high of $138.34. The stock has a market cap of $46.91 billion, a P/E ratio of 28.17 and a beta of 0.73.
CME Group (NASDAQ:CME) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $925.00 million during the quarter, compared to analyst estimates of $931.05 million. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. On average, equities analysts forecast that CME Group will post $4.82 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.64 annualized dividend and a yield of 1.91%. CME Group’s dividend payout ratio is 53.99%.
In other CME Group news, CFO John W. Pietrowicz sold 2,500 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $124.50, for a total transaction of $311,250.00. Following the sale, the chief financial officer now directly owns 38,495 shares of the company’s stock, valued at $4,792,627.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin J. Gepsman sold 200 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $126.14, for a total transaction of $25,228.00. Following the sale, the director now directly owns 43,311 shares in the company, valued at $5,463,249.54. The disclosure for this sale can be found here. Insiders have sold 48,244 shares of company stock worth $6,021,890 over the last ninety days. Insiders own 0.57% of the company’s stock.
A number of institutional investors have recently modified their holdings of CME. BlackRock Inc. grew its stake in CME Group by 2,172.6% during the first quarter. BlackRock Inc. now owns 27,265,611 shares of the financial services provider’s stock worth $3,239,152,000 after buying an additional 26,065,883 shares during the last quarter. Janus Henderson Group PLC grew its stake in CME Group by 13,530.7% during the second quarter. Janus Henderson Group PLC now owns 6,150,016 shares of the financial services provider’s stock worth $770,227,000 after buying an additional 6,104,897 shares during the last quarter. Edgewood Management LLC grew its stake in CME Group by 26.4% during the first quarter. Edgewood Management LLC now owns 7,228,349 shares of the financial services provider’s stock worth $858,728,000 after buying an additional 1,511,753 shares during the last quarter. Fiera Capital Corp grew its stake in CME Group by 243.9% during the second quarter. Fiera Capital Corp now owns 1,926,918 shares of the financial services provider’s stock worth $241,327,000 after buying an additional 1,366,557 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in CME Group by 25.5% during the second quarter. Wells Fargo & Company MN now owns 4,379,568 shares of the financial services provider’s stock worth $548,496,000 after buying an additional 889,217 shares during the last quarter. 82.64% of the stock is currently owned by hedge funds and other institutional investors.
CME Group Company Profile
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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