Deutsche Bank AG Increases CME Group Inc. (CME) Price Target to $116.00
CME Group Inc. (NASDAQ:CME) had its target price upped by equities researchers at Deutsche Bank AG from $115.00 to $116.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Deutsche Bank AG’s target price suggests a potential upside of 11.34% from the stock’s current price.
Several other analysts also recently commented on the stock. Credit Agricole SA dropped their target price on shares of CME Group from $100.00 to $95.00 and set an “underperform” rating on the stock in a report on Thursday, July 14th. Zacks Investment Research upgraded shares of CME Group from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Thursday, August 4th. Jefferies Group raised their target price on shares of CME Group from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Keefe, Bruyette & Woods raised their target price on shares of CME Group from $99.00 to $103.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. set a $116.00 target price on shares of CME Group and gave the stock a “buy” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $103.18.
Shares of CME Group (NASDAQ:CME) opened at 104.19 on Wednesday. The company’s 50 day moving average is $106.77 and its 200 day moving average is $99.36. CME Group has a 12-month low of $81.87 and a 12-month high of $110.35. The company has a market capitalization of $35.31 billion, a P/E ratio of 26.31 and a beta of 0.83.
CME Group (NASDAQ:CME) last announced its earnings results on Thursday, July 28th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.11 by $0.03. The firm had revenue of $906 million for the quarter, compared to the consensus estimate of $897.84 million. CME Group had a net margin of 38.22% and a return on equity of 6.83%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. Analysts expect that CME Group will post $4.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, September 7th. This represents a $2.40 dividend on an annualized basis and a yield of 2.30%. CME Group’s dividend payout ratio (DPR) is 60.61%.
In other CME Group news, insider Kimberly S. Taylor sold 2,300 shares of CME Group stock in a transaction on Monday, August 1st. The shares were sold at an average price of $102.58, for a total transaction of $235,934.00. Following the completion of the transaction, the insider now directly owns 103,789 shares of the company’s stock, valued at $10,646,675.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hilda Harris Piell sold 893 shares of CME Group stock in a transaction on Monday, September 19th. The stock was sold at an average price of $110.00, for a total transaction of $98,230.00. Following the transaction, the insider now directly owns 29,125 shares of the company’s stock, valued at $3,203,750. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System bought a new position in CME Group during the first quarter worth approximately $500,000. CIBC World Markets Inc. bought a new position in CME Group during the first quarter worth approximately $860,000. Ngam Advisors L.P. boosted its position in CME Group by 8.9% in the first quarter. Ngam Advisors L.P. now owns 37,903 shares of the company’s stock worth $3,641,000 after buying an additional 3,094 shares during the period. TIAA CREF Investment Management LLC boosted its position in CME Group by 21.8% in the first quarter. TIAA CREF Investment Management LLC now owns 989,117 shares of the company’s stock worth $95,005,000 after buying an additional 176,790 shares during the period. Finally, Teachers Advisors Inc. boosted its position in CME Group by 8.8% in the first quarter. Teachers Advisors Inc. now owns 513,625 shares of the company’s stock worth $49,334,000 after buying an additional 41,401 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.
About CME Group
CME Group Inc is a provider of products across all major asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. The Company’s products include both exchange-traded and privately negotiated futures and options contracts and swaps. The Company connects buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City.
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