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Barclays Increases CME Group (NASDAQ:CME) Price Target to $257.00

CME Group logo with Finance background

CME Group (NASDAQ:CME - Get Free Report) had its price target upped by Barclays from $231.00 to $257.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would indicate a potential upside of 8.57% from the company's previous close.

Several other research firms have also commented on CME. Morgan Stanley lifted their price target on CME Group from $210.00 to $233.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Citigroup lifted their target price on shares of CME Group from $250.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Piper Sandler increased their price target on shares of CME Group from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Royal Bank of Canada restated a "sector perform" rating and issued a $235.00 price objective on shares of CME Group in a research note on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of CME Group from $245.00 to $258.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CME Group currently has an average rating of "Hold" and an average target price of $226.20.

Get Our Latest Analysis on CME Group

CME Group Stock Down 1.1 %

CME stock traded down $2.66 during midday trading on Monday, reaching $236.72. 2,125,343 shares of the company were exchanged, compared to its average volume of 1,959,810. The stock's 50-day simple moving average is $227.88 and its 200 day simple moving average is $212.99. CME Group has a 1-year low of $190.70 and a 1-year high of $249.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $85.30 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 5.52 and a beta of 0.56.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.03. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. CME Group's revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts forecast that CME Group will post 10.22 earnings per share for the current year.

CME Group declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Lynne Fitzpatrick sold 754 shares of the firm's stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now directly owns 13,261 shares of the company's stock, valued at $2,877,504.39. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy S. Bitsberger sold 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total transaction of $226,960.00. Following the completion of the sale, the director now directly owns 10,589 shares in the company, valued at approximately $2,403,279.44. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,028 shares of company stock worth $1,811,681 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CME Group

A number of institutional investors and hedge funds have recently bought and sold shares of CME. Geode Capital Management LLC grew its holdings in shares of CME Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 8,284,745 shares of the financial services provider's stock worth $1,823,964,000 after buying an additional 142,692 shares in the last quarter. Ameriprise Financial Inc. grew its stake in CME Group by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider's stock worth $1,038,676,000 after acquiring an additional 537,758 shares during the period. Raymond James & Associates grew its stake in CME Group by 3.2% in the 2nd quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider's stock worth $595,530,000 after acquiring an additional 94,302 shares during the period. Legal & General Group Plc raised its holdings in CME Group by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,835,075 shares of the financial services provider's stock valued at $557,371,000 after acquiring an additional 176,004 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of CME Group by 17.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider's stock worth $554,707,000 after purchasing an additional 380,071 shares during the period. Hedge funds and other institutional investors own 87.75% of the company's stock.

CME Group Company Profile

(Get Free Report)

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.

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