CME Group’s (CME) “Hold” Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of CME Group Inc. (NASDAQ:CME) in a research note issued to investors on Thursday. They currently have a $133.00 price objective on the financial services provider’s stock.
Several other brokerages have also commented on CME. BidaskClub upgraded shares of CME Group from a hold rating to a buy rating in a report on Wednesday, September 13th. Royal Bank Of Canada raised their price objective on shares of CME Group from $130.00 to $135.00 and gave the stock an outperform rating in a report on Tuesday, June 20th. Deutsche Bank AG lowered their price objective on shares of CME Group from $139.00 to $136.00 and set a buy rating for the company in a report on Tuesday, July 4th. Barclays PLC began coverage on shares of CME Group in a report on Friday, September 8th. They issued an overweight rating and a $139.00 price objective for the company. Finally, UBS AG restated a buy rating and issued a $135.00 price objective (up from $134.00) on shares of CME Group in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. CME Group has an average rating of Buy and an average target price of $133.22.
Shares of CME Group (NASDAQ:CME) opened at 134.17 on Thursday. CME Group has a 12 month low of $98.95 and a 12 month high of $134.36. The company has a 50-day moving average price of $126.73 and a 200-day moving average price of $122.14. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 27.39 and a beta of 0.72.
CME Group (NASDAQ:CME) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The business had revenue of $925.00 million during the quarter, compared to analyst estimates of $931.05 million. During the same period last year, the business posted $1.14 earnings per share. CME Group’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that CME Group will post $4.82 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.64 annualized dividend and a dividend yield of 1.97%. CME Group’s payout ratio is 53.99%.
In other news, President Bryan T. Durkin sold 9,200 shares of CME Group stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $125.13, for a total transaction of $1,151,196.00. Following the completion of the transaction, the president now directly owns 70,938 shares in the company, valued at $8,876,471.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Suskind sold 750 shares of CME Group stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $129.34, for a total transaction of $97,005.00. Following the transaction, the director now owns 5,059 shares of the company’s stock, valued at $654,331.06. The disclosure for this sale can be found here. Insiders have sold 48,244 shares of company stock valued at $6,021,890 over the last quarter. Company insiders own 0.57% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CME. BlackRock Inc. lifted its holdings in shares of 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 valued at $3,239,152,000 after purchasing an additional 26,065,883 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of 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 valued at $770,227,000 after purchasing an additional 6,104,897 shares during the last quarter. Edgewood Management LLC lifted its holdings in shares of 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 valued at $858,728,000 after purchasing an additional 1,511,753 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of 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 valued at $241,327,000 after purchasing an additional 1,366,557 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of 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 valued at $548,496,000 after purchasing an additional 889,217 shares during the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.
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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