CME Group (NASDAQ:CME) Stock Price Expected to Rise, Piper Sandler Analyst Says

CME Group (NASDAQ:CME) had its target price raised by equities researchers at Piper Sandler from $283.00 to $296.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 6.66% from the company’s current price.

Other analysts have also issued research reports about the company. Bank of America lifted their target price on CME Group from $200.00 to $219.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on CME Group from $301.00 to $304.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Oppenheimer lifted their target price on CME Group from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Citigroup lifted their target price on CME Group from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Finally, Wall Street Zen lowered CME Group from a “hold” rating to a “sell” rating in a report on Sunday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CME Group has a consensus rating of “Hold” and an average target price of $261.80.

CME Group Stock Up 0.9%

CME stock opened at $277.53 on Tuesday. CME Group has a twelve month low of $193.25 and a twelve month high of $290.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market cap of $100.01 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 4.80 and a beta of 0.44. The business has a 50 day moving average of $276.17 and a 200 day moving average of $260.04.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.19. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.56 billion. CME Group had a return on equity of 14.03% and a net margin of 57.71%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. On average, research analysts forecast that CME Group will post 10.49 EPS for the current fiscal year.

Insider Activity at CME Group

In related news, Director Charles P. Carey sold 3,000 shares of CME Group stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $272.56, for a total transaction of $817,680.00. Following the transaction, the director directly owned 5,400 shares in the company, valued at approximately $1,471,824. The trade was a 35.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Suskind sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $271.28, for a total value of $271,280.00. Following the completion of the transaction, the director owned 2,915 shares in the company, valued at $790,781.20. The trade was a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock valued at $3,680,610 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CME Group

Several large investors have recently made changes to their positions in the business. Great Lakes Advisors LLC lifted its position in shares of CME Group by 2.3% in the first quarter. Great Lakes Advisors LLC now owns 1,661 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 37 shares in the last quarter. Beaumont Financial Advisors LLC lifted its position in shares of CME Group by 2.0% in the second quarter. Beaumont Financial Advisors LLC now owns 1,952 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 38 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of CME Group by 3.0% in the first quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 40 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in shares of CME Group by 50.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Finally, OneAscent Financial Services LLC increased its holdings in shares of CME Group by 4.0% in the first quarter. OneAscent Financial Services LLC now owns 1,106 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 43 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

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.