CME Group (NASDAQ:CME) Price Target Raised to $290.00

Key Points

• TD Cowen has raised its price target for CME Group from $288.00 to $290.00, indicating a potential upside of 7.05% from its previous close, while maintaining a "hold" rating on the stock.
• Despite the price increase, eight analysts have rated the stock as a "Buy," with a consensus rating of "Hold" and an average price target of $284.87.
• CME Group reported earnings of $2.68 per share, exceeding analyst expectations, although its quarterly revenue fell by 3.0% year-over-year.

CME Group (NASDAQ:CME - Get Free Report) had its price target hoisted by equities researchers at TD Cowen from $288.00 to $290.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a "hold" rating on the financial services provider's stock. TD Cowen's target price would suggest a potential upside of 7.05% from the stock's previous close.

Several other brokerages also recently weighed in on CME. UBS Group restated a "neutral" rating on shares of CME Group in a research report on Thursday. Raymond James Financial dropped their target price on shares of CME Group from $309.00 to $307.00 and set an "outperform" rating for the company in a report on Monday, October 13th. Piper Sandler lifted their price target on shares of CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of CME Group from $252.00 to $256.00 and gave the company an "underweight" rating in a research note on Tuesday, October 14th. Finally, Barclays cut 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 analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $284.87.

CME Group Stock Performance

NASDAQ CME opened at $270.90 on Thursday. The firm's 50 day simple moving average is $266.67 and its 200 day simple moving average is $271.45. The firm has a market capitalization of $97.63 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 6.18 and a beta of 0.41. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group has a 1 year low of $213.94 and a 1 year high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.05. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.56 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 earnings per share. As a group, research analysts expect that CME Group will post 10.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CME Group news, insider Timothy Francis Mccourt sold 379 shares of the business's 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 directly owned 9,508 shares of the company's stock, valued at approximately $2,470,463.64. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Shepard acquired 262 shares of CME Group stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of $265.19 per share, with a total value of $69,479.78. Following the transaction, the director owned 258,459 shares in the company, valued at approximately $68,540,742.21. This trade represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 13,043 shares of company stock valued at $3,527,956. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CME Group

Large investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its position in shares of CME Group by 1.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 17,158 shares of the financial services provider's stock worth $4,636,000 after purchasing an additional 228 shares in the last quarter. Cerity Partners LLC grew its stake in CME Group by 1.7% in the third quarter. Cerity Partners LLC now owns 127,327 shares of the financial services provider's stock valued at $34,403,000 after acquiring an additional 2,167 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of CME Group during the third quarter valued at approximately $309,000. Gladstone Institutional Advisory LLC bought a new position in shares of CME Group in the 3rd quarter worth $2,007,000. Finally, Chicago Capital LLC grew its position in CME Group by 583.8% in the 3rd quarter. Chicago Capital LLC now owns 13,327 shares of the financial services provider's stock valued at $3,601,000 after purchasing an additional 11,378 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.

CME Group Company Profile

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.

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