CME Group (NASDAQ:CME) Price Target Cut to $256.00 by Analysts at Keefe, Bruyette & Woods

CME Group (NASDAQ:CME - Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $260.00 to $256.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider's stock.

Several other equities research analysts have also recently issued reports on CME. Royal Bank of Canada reissued a "sector perform" rating and issued a $235.00 price objective on shares of CME Group in a research report on Monday, January 6th. Citigroup lowered CME Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $255.00 to $250.00 in a report on Monday, January 6th. Barclays raised their price objective on CME Group from $231.00 to $257.00 and gave the stock an "equal weight" rating in a report on Monday, December 9th. Oppenheimer upped their target price on CME Group from $245.00 to $258.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, TD Cowen initiated coverage on CME Group in a research note on Thursday, September 26th. They set a "hold" rating and a $221.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $229.27.

CME Group Price Performance

Shares of NASDAQ CME traded up $0.25 during mid-day trading on Monday, hitting $229.45. 1,650,042 shares of the company's stock traded hands, compared to its average volume of 2,093,605. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. CME Group has a 1 year low of $190.70 and a 1 year high of $249.02. The company's 50-day moving average is $232.56 and its two-hundred day moving average is $218.87. The company has a market capitalization of $82.69 billion, a P/E ratio of 24.13, a PEG ratio of 5.41 and a beta of 0.56.

CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share 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 business had revenue of $1.58 billion for 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. The business's revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts anticipate that CME Group will post 10.22 EPS for the current fiscal year.

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

CME Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, December 27th will be issued a dividend of $5.80 per share. The ex-dividend date is Friday, December 27th. This is a positive change from CME Group's previous dividend of $2.50. CME Group's dividend payout ratio is currently 48.37%.

Insider Activity at CME Group

In related news, insider Timothy Francis Mccourt sold 1,374 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $227.12, for a total transaction of $312,062.88. Following the completion of the transaction, the insider now owns 7,275 shares of the company's stock, valued at $1,652,298. This trade represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin J. Gepsman sold 400 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the transaction, the director now owns 25,067 shares of the company's stock, valued at $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,274 shares of company stock valued at $1,648,071 in the last ninety days. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On CME Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in shares of CME Group during the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its stake in CME Group by 188.4% in the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider's stock valued at $27,000 after buying an additional 81 shares in the last quarter. Fortitude Family Office LLC increased its stake in CME Group by 120.3% during the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider's stock worth $35,000 after buying an additional 83 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 74 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its position in shares of CME Group by 52.4% in the third quarter. Anchor Investment Management LLC now owns 378 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 130 shares in 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.