CME Group (NASDAQ:CME) Stock Rating Upgraded by Raymond James

CME Group (NASDAQ:CME - Get Free Report) was upgraded by Raymond James from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has a $287.00 price objective on the financial services provider's stock. Raymond James' price objective would indicate a potential upside of 9.43% from the stock's previous close.

Several other brokerages also recently weighed in on CME. Deutsche Bank Aktiengesellschaft reduced their price target on CME Group from $227.00 to $226.00 and set a "hold" rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on CME Group from $209.00 to $212.00 and gave the stock an "underweight" rating in a report on Thursday, February 13th. Royal Bank of Canada increased their price target on CME Group from $235.00 to $269.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Piper Sandler increased their price objective on CME Group from $250.00 to $258.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price objective on CME Group from $256.00 to $257.00 and gave the stock a "market perform" rating in a research note on Friday, February 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, CME Group currently has an average rating of "Hold" and an average price target of $238.93.

Remove Ads

CME Group Price Performance

CME Group stock traded up $7.71 during midday trading on Monday, reaching $262.28. 4,407,127 shares of the stock traded hands, compared to its average volume of 1,868,540. The stock's fifty day moving average is $240.68 and its 200-day moving average is $231.22. CME Group has a 12 month low of $190.70 and a 12 month high of $262.40. The stock has a market cap of $94.51 billion, a P/E ratio of 27.12, a PEG ratio of 6.76 and a beta of 0.53. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that CME Group will post 10.49 EPS for the current year.

CME Group announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at CME Group

In other news, insider Hilda Harris Piell sold 3,984 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $250.47, for a total value of $997,872.48. Following the completion of the sale, the insider now owns 27,046 shares of the company's stock, valued at $6,774,211.62. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Winkler sold 11,592 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total value of $2,888,378.64. Following the completion of the sale, the insider now directly owns 21,885 shares of the company's stock, valued at $5,453,085.45. The trade was a 34.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,076 shares of company stock valued at $4,271,496. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of CME Group

A number of institutional investors have recently made changes to their positions in CME. Norges Bank purchased a new position in CME Group in the 4th quarter worth $1,107,389,000. Price T Rowe Associates Inc. MD raised its stake in CME Group by 89.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,280,785 shares of the financial services provider's stock worth $1,923,047,000 after acquiring an additional 3,921,278 shares during the last quarter. Raymond James Financial Inc. purchased a new position in CME Group in the 4th quarter worth $871,063,000. Franklin Resources Inc. raised its stake in CME Group by 70.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider's stock worth $544,157,000 after acquiring an additional 1,003,119 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its stake in CME Group by 69.2% in the 4th quarter. Capital Wealth Planning LLC now owns 2,435,823 shares of the financial services provider's stock worth $565,671,000 after acquiring an additional 996,498 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

About CME Group

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.