CME Group (NASDAQ:CME) Stock Rating Lowered by Citigroup

CME Group (NASDAQ:CME) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $250.00 price target on the financial services provider’s stock, down from their previous price target of $255.00. Citigroup’s price target would suggest a potential upside of 10.13% from the stock’s current price.

Several other research analysts also recently issued reports on CME. The Goldman Sachs Group upped their target price on shares of CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $235.00 price objective on shares of CME Group in a research report on Thursday, October 24th. Piper Sandler increased their target price on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Bank of America boosted their price target on CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on CME Group from $237.00 to $260.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $229.53.

CME Group Stock Up 0.5 %

Shares of NASDAQ:CME opened at $227.01 on Monday. The firm has a market capitalization of $81.81 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 5.41 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. CME Group has a 52-week low of $190.70 and a 52-week high of $249.02. The firm has a fifty day moving average of $232.32 and a 200 day moving average of $218.15.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.59 billion. During the same quarter last year, the firm earned $2.25 EPS. The company’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts anticipate that CME Group will post 10.22 EPS for the current fiscal year.

CME Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at CME Group

In related news, Director Timothy S. Bitsberger sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total transaction of $226,960.00. Following the completion of the transaction, the director now owns 10,589 shares in the company, valued at $2,403,279.44. The trade was a 8.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin J. Gepsman sold 400 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the completion of the sale, the director now owns 25,067 shares in the company, valued at approximately $5,587,935.64. The trade was a 1.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,274 shares of company stock worth $1,648,071. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of CME Group in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in shares of CME Group by 188.4% during the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of CME Group during the 2nd quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in CME Group by 62.2% in the 3rd 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 period. Finally, Asset Dedication LLC increased its holdings in CME Group by 515.2% in the 2nd quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

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.