Berenberg Bank downgraded shares of CME Group (NASDAQ:CME) from a buy rating to a hold rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has $227.00 target price on the financial services provider’s stock, down from their prior target price of $236.00.
A number of other brokerages have also recently issued reports on CME. Oppenheimer started coverage on CME Group in a report on Monday. They issued an outperform rating and a $234.00 target price for the company. Barclays upped their target price on CME Group from $191.00 to $197.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Wells Fargo & Co upped their target price on CME Group from $176.00 to $200.00 and gave the stock a market perform rating in a report on Wednesday, July 3rd. Zacks Investment Research cut CME Group from a hold rating to a sell rating and set a $158.00 target price for the company. in a report on Monday, May 27th. Finally, BidaskClub cut CME Group from a buy rating to a hold rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. CME Group currently has a consensus rating of Hold and an average price target of $200.00.
NASDAQ:CME opened at $212.74 on Thursday. The stock has a fifty day moving average price of $212.30 and a 200-day moving average price of $192.06. The company has a market cap of $75.78 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 4.59 and a beta of 0.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.05 and a current ratio of 1.05. CME Group has a fifty-two week low of $161.05 and a fifty-two week high of $224.91.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.01. CME Group had a return on equity of 9.14% and a net margin of 39.36%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the company earned $1.74 EPS. CME Group’s revenue for the quarter was up 20.1% on a year-over-year basis. Research analysts predict that CME Group will post 6.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a $0.75 dividend. The ex-dividend date is Monday, September 9th. This represents a $3.00 annualized dividend and a yield of 1.41%. CME Group’s payout ratio is currently 43.99%.
In other news, CFO John W. Pietrowicz sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $201.30, for a total value of $503,250.00. Following the transaction, the chief financial officer now owns 32,854 shares in the company, valued at $6,613,510.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $200.15, for a total value of $7,005,250.00. Following the completion of the transaction, the chief executive officer now owns 79,057 shares in the company, valued at approximately $15,823,258.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,626 shares of company stock worth $12,255,934. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Close Asset Management Ltd purchased a new stake in CME Group in the first quarter worth $34,000. Advantage Investment Management LLC boosted its stake in CME Group by 119.0% during the second quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Westside Investment Management Inc. bought a new stake in CME Group during the second quarter valued at $38,000. Private Capital Group LLC boosted its stake in CME Group by 44.9% during the second quarter. Private Capital Group LLC now owns 242 shares of the financial services provider’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Permanens Capital L.P. bought a new stake in CME Group during the first quarter valued at $41,000. Institutional investors own 84.85% of the company’s stock.
CME Group Company Profile
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.
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