UBS Group cut shares of CME Group (NASDAQ:CME) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, 99wallstreet.com reports. They currently have $204.00 price target on the financial services provider’s stock, up from their prior price target of $185.00.
Several other analysts have also issued reports on CME. Deutsche Bank boosted their target price on shares of CME Group from $205.00 to $206.00 and gave the company a buy rating in a research report on Friday, November 16th. Berenberg Bank upgraded shares of CME Group from a hold rating to a buy rating and set a $220.00 target price for the company in a research report on Tuesday, November 20th. BidaskClub upgraded shares of CME Group from a buy rating to a strong-buy rating in a research report on Tuesday, October 9th. Citigroup assumed coverage on shares of CME Group in a research report on Tuesday, November 20th. They set a buy rating and a $220.00 target price for the company. Finally, Wells Fargo & Co lifted their price target on shares of CME Group from $175.00 to $177.00 and gave the company a market perform rating in a report on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $191.80.
Shares of NASDAQ CME opened at $190.08 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $64.20 billion, a P/E ratio of 39.85, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. CME Group has a 12-month low of $143.68 and a 12-month high of $197.08.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 10th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, December 7th. CME Group’s dividend payout ratio is currently 58.70%.
In other news, CAO Jack J. Tobin sold 7,820 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $174.87, for a total value of $1,367,483.40. Following the transaction, the chief accounting officer now owns 17,534 shares of the company’s stock, valued at $3,066,170.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hilda Harris Piell sold 1,823 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $175.00, for a total transaction of $319,025.00. Following the completion of the transaction, the insider now directly owns 30,176 shares in the company, valued at approximately $5,280,800. The disclosure for this sale can be found here. Insiders have sold 44,419 shares of company stock worth $8,193,732 in the last ninety days. Insiders own 0.43% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in shares of CME Group in the third quarter worth $294,000. Morgan Stanley lifted its holdings in shares of CME Group by 20.5% in the third quarter. Morgan Stanley now owns 1,118,708 shares of the financial services provider’s stock worth $190,415,000 after buying an additional 190,256 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of CME Group by 2.2% in the third quarter. Legal & General Group Plc now owns 1,612,654 shares of the financial services provider’s stock worth $274,515,000 after buying an additional 34,772 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of CME Group by 17,847.3% in the third quarter. Rehmann Capital Advisory Group now owns 280,876 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 279,311 shares in the last quarter. Finally, Financial Enhancement Group LLC purchased a new position in shares of CME Group in the third quarter worth $393,000. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
CME Group Company Profile
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals.
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