CME Group (NASDAQ:CME) Given New $296.00 Price Target at Piper Sandler

CME Group (NASDAQ:CME) had its price objective hoisted by stock analysts at Piper Sandler from $283.00 to $296.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 8.31% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $269.00 target price on shares of CME Group in a research report on Thursday, April 3rd. Morgan Stanley raised their price target on CME Group from $301.00 to $304.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Wall Street Zen cut CME Group from a “hold” rating to a “sell” rating in a research note on Sunday. Barclays increased their price objective on CME Group from $283.00 to $299.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CME Group from $223.00 to $211.00 and set an “underweight” rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $261.80.

CME Group Stock Down 1.4%

Shares of NASDAQ CME traded down $3.78 during mid-day trading on Tuesday, reaching $273.29. 320,879 shares of the company’s stock were exchanged, compared to its average volume of 2,171,163. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $276.47 and a 200 day simple moving average of $259.81. CME Group has a twelve month low of $193.25 and a twelve month high of $290.79. The firm has a market capitalization of $98.48 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 4.45 and a beta of 0.44.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.61 by $0.19. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.56 billion. CME Group had a net margin of 57.71% and a return on equity of 14.03%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. As a group, equities analysts expect that CME Group will post 10.49 EPS for the current fiscal year.

Insider Buying and Selling at CME Group

In other news, Director Larry G. Gerdes sold 2,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $264.10, for a total value of $528,200.00. Following the completion of the transaction, the director directly owned 38,651 shares in the company, valued at approximately $10,207,729.10. This represents a 4.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Phyllis M. Lockett sold 1,060 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $277.88, for a total value of $294,552.80. Following the sale, the director owned 3,108 shares in the company, valued at approximately $863,651.04. This trade represents a 25.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock worth $3,680,610 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CME Group

Several institutional investors and hedge funds have recently made changes to their positions in CME. Webster Bank N. A. grew its holdings in CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 60 shares during the period. Wayfinding Financial LLC bought a new stake in shares of CME Group during the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC grew its stake in CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 55 shares during the period. Golden State Wealth Management LLC grew its stake in CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 98 shares during the period. Finally, Ransom Advisory Ltd bought a new stake in CME Group in the first quarter worth approximately $31,000. 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.