CME Group (NASDAQ:CME) Given New $233.00 Price Target at Morgan Stanley

by · The Markets Daily

CME Group (NASDAQ:CME – Get Free Report) had its price target upped by research analysts at Morgan Stanley from $210.00 to $233.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 2.02% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Citigroup increased their price objective on CME Group from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Redburn Atlantic cut CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price objective for the company. in a report on Tuesday, October 8th. Oppenheimer upped their target price on shares of CME Group from $228.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Cowen initiated coverage on shares of CME Group in a report on Thursday, September 26th. They set a “hold” rating and a $221.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CME Group has an average rating of “Hold” and a consensus target price of $220.07.

Read Our Latest Stock Analysis on CME

CME Group Stock Performance

CME Group stock traded up $1.21 during trading hours on Thursday, reaching $228.38. 1,005,162 shares of the company were exchanged, compared to its average volume of 1,941,505. CME Group has a 12 month low of $190.70 and a 12 month high of $230.12. The firm has a market cap of $82.23 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 7.76 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $216.04 and a 200 day moving average of $208.14.

CME Group (NASDAQ:CME – Get Free Report) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $2.30 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that CME Group will post 10.04 earnings per share for the current year.

Insider Buying and Selling at CME Group

In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the transaction, the director now directly owns 55,607 shares of the company’s stock, valued at $11,932,706.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Bryan T. Durkin sold 7,593 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares in the company, valued at $11,932,706.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction dated Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CME Group

Large investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in shares of CME Group by 24.1% during the 1st quarter. Capital International Investors now owns 15,809,175 shares of the financial services provider’s stock worth $3,403,557,000 after acquiring an additional 3,069,806 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in CME Group by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,260,644 shares of the financial services provider’s stock valued at $444,443,000 after purchasing an additional 1,309,097 shares during the period. M&G Plc bought a new stake in shares of CME Group in the first quarter valued at approximately $156,631,000. Assenagon Asset Management S.A. increased its position in shares of CME Group by 577.9% in the second quarter. Assenagon Asset Management S.A. now owns 645,330 shares of the financial services provider’s stock worth $126,872,000 after purchasing an additional 550,133 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in CME Group by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock valued at $1,038,676,000 after buying an additional 537,758 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Company Profile

(Get Free Report)

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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