The Goldman Sachs Group Cuts CME Group (NASDAQ:CME) Price Target to $263.00

CME Group (NASDAQ:CME) had its price objective cut by The Goldman Sachs Group from $264.00 to $263.00 in a report released on Thursday morning,MarketScreener reports. They currently have a sell rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of CME Group from $282.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday. Rothschild & Co Redburn boosted their price target on shares of CME Group from $297.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Barclays dropped their price objective on shares of CME Group from $298.00 to $280.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Piper Sandler increased their price target on CME Group from $296.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CME Group in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $289.18.

CME Group Stock Down 0.8%

Shares of CME opened at $270.87 on Thursday. The business’s 50 day moving average is $271.57 and its 200 day moving average is $272.76. The company has a market capitalization of $97.68 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. CME Group has a 12-month low of $224.62 and a 12-month high of $290.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.05. CME Group had a return on equity of 14.61% and a net margin of 58.84%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted $2.68 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts expect that CME Group will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Friday, December 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 12th. CME Group’s payout ratio is presently 48.45%.

Insider Buying and Selling

In other news, Director Harold Eugene Jr. Ford sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $263.53, for a total value of $263,530.00. Following the completion of the sale, the director directly owned 1,091 shares of the company’s stock, valued at $287,511.23. This trade represents a 47.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Shepard bought 262 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $265.19 per share, with a total value of $69,479.78. Following the acquisition, the director owned 258,459 shares in the company, valued at approximately $68,540,742.21. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 2,147 shares of company stock valued at $562,079. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CME Group

Several hedge funds and other institutional investors have recently made changes to their positions in CME. Webster Bank N. A. raised its position in CME Group by 206.9% in the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 60 shares during the period. Caldwell Trust Co raised its holdings in shares of CME Group by 116.3% in the third quarter. Caldwell Trust Co now owns 93 shares of the financial services provider’s stock worth $25,000 after buying an additional 50 shares during the period. Highline Wealth Partners LLC lifted its stake in shares of CME Group by 84.3% during the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in CME Group during the 3rd quarter valued at $27,000. Finally, Financial Consulate Inc. purchased a new position in CME Group during the 3rd quarter valued at $28,000. Hedge funds and other 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.