CME Group (NASDAQ:CME) Given New $273.00 Price Target at TD Cowen

CME Group (NASDAQ:CME) had its price target lowered by TD Cowen from $323.00 to $273.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 10.89% from the stock’s previous close.

A number of other brokerages have also weighed in on CME. Raymond James Financial raised their target price on shares of CME Group from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. UBS Group reiterated an “overweight” rating on shares of CME Group in a research note on Monday, June 15th. Weiss Ratings downgraded CME Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 11th. Erste Group Bank cut CME Group from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Morgan Stanley dropped their target price on CME Group from $362.00 to $353.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $302.24.

CME Group Price Performance

NASDAQ:CME traded down $0.19 during trading hours on Monday, hitting $246.19. The company’s stock had a trading volume of 258,393 shares, compared to its average volume of 2,597,018. The stock has a fifty day simple moving average of $279.61 and a 200-day simple moving average of $287.27. The company has a market capitalization of $89.21 billion, a P/E ratio of 21.01, a PEG ratio of 2.75 and a beta of 0.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. CME Group has a twelve month low of $244.56 and a twelve month high of $329.16.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 EPS for the quarter, topping the consensus estimate of $3.11 by $0.25. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, analysts anticipate that CME Group will post 12.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Hilda Harris Piell sold 5,753 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $304.63, for a total value of $1,752,536.39. Following the completion of the sale, the insider owned 27,702 shares in the company, valued at $8,438,860.26. This represents a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the transaction, the chief executive officer directly owned 55,630 shares in the company, valued at $16,606,111.30. The trade was a 38.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CME. Norges Bank bought a new position in CME Group in the 4th quarter worth approximately $1,523,241,000. Sanders Capital LLC bought a new stake in CME Group during the 3rd quarter valued at $1,006,932,000. Strive Asset Management LLC purchased a new stake in shares of CME Group during the third quarter worth $636,487,000. Victory Capital Management Inc. boosted its holdings in shares of CME Group by 746.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,049,649 shares of the financial services provider’s stock worth $559,720,000 after acquiring an additional 1,807,491 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of CME Group by 39.1% in the first quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider’s stock worth $1,187,290,000 after acquiring an additional 1,130,587 shares during the period. Institutional investors own 87.75% of the company’s stock.

About CME Group

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.