CME Group (NASDAQ:CME) Price Target Raised to $263.00

CME Group (NASDAQ:CME) had its price objective upped by equities research analysts at Barclays from $257.00 to $263.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 5.64% from the company’s current price.

CME has been the subject of a number of other reports. Keefe, Bruyette & Woods reduced their price target on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Piper Sandler boosted their target price on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Citigroup lowered CME Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $255.00 to $250.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $235.00 price target on shares of CME Group in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Four investment 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. According to MarketBeat, CME Group currently has an average rating of “Hold” and a consensus price target of $229.67.

CME Group Stock Up 3.0 %

Shares of NASDAQ CME opened at $248.96 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a market cap of $89.72 billion, a P/E ratio of 26.18, a P/E/G ratio of 5.54 and a beta of 0.57. CME Group has a 52 week low of $190.70 and a 52 week high of $253.53. The business has a 50-day simple moving average of $235.74 and a two-hundred day simple moving average of $225.08.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. CME Group had a net margin of 57.34% and a return on equity of 13.39%. Research analysts anticipate that CME Group will post 10.18 earnings per share for the current fiscal year.

CME Group announced that its board has authorized a stock repurchase program on Thursday, December 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in shares of CME Group by 3.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,094 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 101 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in CME Group by 13.9% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 110,611 shares of the financial services provider’s stock worth $25,687,000 after purchasing an additional 13,500 shares during the period. Russell Investments Group Ltd. lifted its position in CME Group by 9.9% in the fourth quarter. Russell Investments Group Ltd. now owns 899,939 shares of the financial services provider’s stock valued at $208,941,000 after purchasing an additional 80,755 shares during the last quarter. Wedbush Securities Inc. lifted its position in CME Group by 11.1% in the fourth quarter. Wedbush Securities Inc. now owns 6,961 shares of the financial services provider’s stock valued at $1,616,000 after purchasing an additional 694 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of CME Group by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 552,108 shares of the financial services provider’s stock valued at $128,216,000 after purchasing an additional 7,525 shares during the period. 87.75% of the stock is owned by institutional investors.

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.