Barclays PLC initiated coverage on shares of CME Group Inc. (NASDAQ:CME) in a research note released on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $139.00 price objective on the financial services provider’s stock.
CME has been the subject of several other reports. Deutsche Bank AG restated a buy rating and set a $133.00 price target (down from $134.00) on shares of CME Group in a report on Monday, May 15th. Jefferies Group LLC restated a buy rating and set a $134.00 price target (up from $128.00) on shares of CME Group in a report on Monday, July 17th. Royal Bank Of Canada set a $130.00 price target on CME Group and gave the company a buy rating in a report on Monday, June 12th. BidaskClub downgraded CME Group from a buy rating to a hold rating in a report on Friday, September 1st. Finally, UBS AG restated a buy rating and set a $135.00 price target (up from $134.00) on shares of CME Group in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. CME Group has a consensus rating of Buy and a consensus target price of $132.56.
Shares of CME Group (CME) opened at 128.04 on Friday. The company has a market cap of $43.52 billion, a price-to-earnings ratio of 26.14 and a beta of 0.72. CME Group has a 52 week low of $98.95 and a 52 week high of $129.31. The firm’s 50-day moving average is $124.85 and its 200-day moving average is $121.77.
CME Group (NASDAQ:CME) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. CME Group had a return on equity of 7.61% and a net margin of 46.05%. The firm had revenue of $925 million during the quarter, compared to the consensus estimate of $931.05 million. During the same period last year, the company earned $1.14 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that CME Group will post $4.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.06%. CME Group’s dividend payout ratio is currently 53.99%.
In other news, Director Timothy S. Bitsberger sold 800 shares of CME Group stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.93, for a total transaction of $100,744.00. Following the transaction, the director now directly owns 9,024 shares of the company’s stock, valued at approximately $1,136,392.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Terrence A. Duffy sold 21,815 shares of CME Group stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $123.89, for a total value of $2,702,660.35. Following the transaction, the chairman now directly owns 110,711 shares in the company, valued at $13,715,985.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,819 shares of company stock valued at $7,992,378. Corporate insiders own 0.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Fiduciary Trust Co. purchased a new position in shares of CME Group during the 2nd quarter valued at about $105,000. Quadrant Capital Group LLC lifted its position in shares of CME Group by 13.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 944 shares of the financial services provider’s stock valued at $111,000 after buying an additional 113 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of CME Group during the 2nd quarter valued at about $129,000. Whittier Trust Co. lifted its position in shares of CME Group by 2.6% during the 2nd quarter. Whittier Trust Co. now owns 1,057 shares of the financial services provider’s stock valued at $133,000 after buying an additional 27 shares in the last quarter. Finally, People s United Financial Inc. lifted its position in shares of CME Group by 11.5% during the 2nd quarter. People s United Financial Inc. now owns 1,063 shares of the financial services provider’s stock valued at $133,000 after buying an additional 110 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.
About CME Group
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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