Erste Group Bank Upgrades CME Group (NASDAQ:CME) to Strong-Buy

CME Group (NASDAQ:CME - Get Free Report) was upgraded by stock analysts at Erste Group Bank to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on CME. Oppenheimer raised their target price on CME Group from $258.00 to $269.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on CME Group from $235.00 to $269.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Morgan Stanley raised their target price on CME Group from $256.00 to $263.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their target price on CME Group from $256.00 to $257.00 and gave the stock a "market perform" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price objective on CME Group from $209.00 to $212.00 and gave the stock an "underweight" rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $238.93.

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CME Group Price Performance

Shares of NASDAQ:CME traded down $3.19 on Monday, reaching $263.35. 7,238,569 shares of the company traded hands, compared to its average volume of 1,928,580. CME Group has a fifty-two week low of $190.70 and a fifty-two week high of $267.91. The company's 50 day moving average is $246.50 and its 200-day moving average is $234.22. The stock has a market capitalization of $94.90 billion, a PE ratio of 27.23, a P/E/G ratio of 6.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.46 by $0.06. CME Group had a return on equity of 13.62% and a net margin of 57.52%. As a group, analysts anticipate that CME Group will post 10.49 earnings per share for the current fiscal year.

CME Group declared that its board has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at CME Group

In other news, insider Hilda Harris Piell sold 3,984 shares of CME Group stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $250.47, for a total value of $997,872.48. Following the transaction, the insider now directly owns 27,046 shares in the company, valued at approximately $6,774,211.62. The trade was a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard J. Siegel sold 10,000 shares of CME Group stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $260.00, for a total value of $2,600,000.00. Following the sale, the director now directly owns 21,873 shares in the company, valued at approximately $5,686,980. This trade represents a 31.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,076 shares of company stock worth $6,871,496. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CME Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in CME Group by 50.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider's stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in CME Group by 2.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,769 shares of the financial services provider's stock worth $411,000 after purchasing an additional 45 shares in the last quarter. TFC Financial Management Inc. boosted its stake in CME Group by 8.4% in the fourth quarter. TFC Financial Management Inc. now owns 592 shares of the financial services provider's stock worth $137,000 after purchasing an additional 46 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in CME Group by 2.0% in the fourth quarter. Waldron Private Wealth LLC now owns 2,362 shares of the financial services provider's stock worth $549,000 after purchasing an additional 47 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in CME Group by 12.1% in the fourth quarter. Venturi Wealth Management LLC now owns 437 shares of the financial services provider's stock worth $101,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Company Profile

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.