CME Group (NASDAQ:CME – Get Free Report) had its price target decreased by stock analysts at Morgan Stanley from $353.00 to $324.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 36.16% from the stock’s previous close.
Several other equities analysts also recently commented on CME. Deutsche Bank Aktiengesellschaft lowered their price objective on CME Group from $342.00 to $322.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Erste Group Bank lowered shares of CME Group from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Wall Street Zen upgraded CME Group from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Barclays reduced their target price on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Weiss Ratings cut shares of CME Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 25th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $293.59.
Get Our Latest Report on CME Group
CME Group Trading Down 0.7%
CME Group (NASDAQ:CME – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.25. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $2.80 EPS. CME Group’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that CME Group will post 12.27 earnings per share for the current year.
Insider Transactions at CME Group
In other CME Group news, CEO Terrence A. Duffy sold 35,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $298.51, for a total value of $10,447,850.00. Following the completion of the transaction, the chief executive officer owned 55,630 shares in the company, valued at approximately $16,606,111.30. This represents a 38.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Shepard bought 325 shares of CME Group stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of the purchase, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.30% of the company’s stock.
Institutional Investors Weigh In On CME Group
Several hedge funds and other institutional investors have recently made changes to their positions in CME. Vanguard Group Inc. boosted its stake in shares of CME Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 35,895,583 shares of the financial services provider’s stock valued at $9,802,366,000 after purchasing an additional 588,509 shares during the period. State Street Corp boosted its holdings in shares of CME Group by 0.4% in the fourth quarter. State Street Corp now owns 16,144,525 shares of the financial services provider’s stock valued at $4,408,747,000 after acquiring an additional 56,725 shares in the last quarter. Norges Bank acquired a new position in CME Group during the fourth quarter worth $1,523,241,000. Bank of New York Mellon Corp increased its holdings in shares of CME Group by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider’s stock valued at $1,344,776,000 after purchasing an additional 134,242 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of CME Group by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,812,914 shares of the financial services provider’s stock valued at $1,300,450,000 after acquiring an additional 130,848 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.
More CME Group News
Here are the key news stories impacting CME Group this week:
- Positive Sentiment: CME Group announced Treasury LINK, a new product designed to simplify U.S. Treasury spread trading and potentially attract more hedging activity and volume. CME Group to launch Treasury LINK for enhanced US Treasury spread trading
- Positive Sentiment: The company also highlighted a new agriculture index aimed at providing a unified price benchmark for the global farm economy, which may broaden CME’s product lineup and reinforce its role in commodities trading. CME Group’s New Agriculture Index Delivers Unified Price Benchmark for the Global Farm Economy
- Neutral Sentiment: Barclays lowered its price target on CME Group to $270 from $316 while keeping an equal-weight rating, signaling softer expectations but still implying some upside from current levels. CME Group (NASDAQ:CME) Price Target Cut to $270.00 by Analysts at Barclays
- Neutral Sentiment: Separate coverage noted that weak trading volumes and competition are weighing on CME Group’s shares, pointing to a more cautious near-term outlook for exchange revenue. Competition And Weaker Trading Volumes Are Weighing On CME Group (CME) Stock
- Negative Sentiment: The biggest drag is the U.S. CFTC’s move to block CME’s plan for 24/7 crude oil futures trading, which could delay a potentially meaningful product expansion and signals regulatory friction. CFTC to block CME’s plan for 24/7 crude oil futures trading
- Negative Sentiment: Additional reports said the CFTC will also block CME’s attempt to fast-track 24/7 oil contracts, reinforcing regulatory headwinds around the company’s trading-hours expansion plans. CFTC set to block CME effort to fast-track 24/7 oil contracts – report
CME Group Company Profile
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.
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