The Goldman Sachs Group Issues Pessimistic Forecast for CME Group (NASDAQ:CME) Stock Price

CME Group (NASDAQ:CME) had its price target reduced by equities research analysts at The Goldman Sachs Group from $264.00 to $263.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has a “sell” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 3.73% from the company’s current price.

A number of other analysts have also recently commented on the company. Rothschild & Co Redburn boosted their price objective on CME Group from $297.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of CME Group in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of CME Group from $283.00 to $287.00 and gave the stock a “market perform” rating in a research report on Monday, October 13th. UBS Group decreased their price objective on shares of CME Group from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, Barclays dropped their target price on shares of CME Group from $298.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $289.18.

CME Group Trading Down 0.4%

CME stock opened at $273.19 on Thursday. The company’s 50-day simple moving average is $271.55 and its 200-day simple moving average is $272.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group has a 52-week low of $224.62 and a 52-week high of $290.79. The firm has a market cap of $98.51 billion, a P/E ratio of 26.47, a PEG ratio of 4.28 and a beta of 0.28.

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

Insider Buying and Selling

In related news, Director William R. Shepard purchased 262 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was acquired at an average cost of $265.19 per share, for a total transaction of $69,479.78. Following the completion of the transaction, the director directly owned 258,459 shares of the company’s stock, valued at approximately $68,540,742.21. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy Francis Mccourt sold 379 shares of CME Group stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total value of $98,475.57. Following the transaction, the insider owned 9,508 shares in the company, valued at approximately $2,470,463.64. The trade was a 3.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, 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 Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Amundi lifted its position in CME Group by 24.0% in the second quarter. Amundi now owns 1,987,347 shares of the financial services provider’s stock valued at $548,150,000 after buying an additional 385,225 shares during the last quarter. AIA Group Ltd lifted its holdings in shares of CME Group by 17.8% in the 1st quarter. AIA Group Ltd now owns 16,645 shares of the financial services provider’s stock worth $4,416,000 after acquiring an additional 2,510 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its position in shares of CME Group by 34.1% during the 1st quarter. Lockheed Martin Investment Management Co. now owns 58,690 shares of the financial services provider’s stock worth $15,570,000 after purchasing an additional 14,910 shares during the period. Truist Financial Corp increased its holdings in CME Group by 10.0% in the 2nd quarter. Truist Financial Corp now owns 64,939 shares of the financial services provider’s stock valued at $17,898,000 after purchasing an additional 5,914 shares during the last quarter. Finally, Markel Group Inc. raised its position in CME Group by 136.8% in the second quarter. Markel Group Inc. now owns 22,500 shares of the financial services provider’s stock valued at $6,201,000 after purchasing an additional 13,000 shares during the period. 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.