CME Group (NASDAQ:CME) Given New $198.00 Price Target at The Goldman Sachs Group

CME Group (NASDAQ:CME) had its price target raised by investment analysts at The Goldman Sachs Group from $195.00 to $198.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sell” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price points to a potential downside of 11.89% from the company’s current price.

Several other brokerages have also recently weighed in on CME. Piper Sandler reiterated an “overweight” rating and set a $225.00 price target on shares of CME Group in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $235.00 target price on shares of CME Group in a report on Thursday. Barclays increased their target price on shares of CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. TD Cowen assumed coverage on shares of CME Group in a report on Thursday, September 26th. They issued a “hold” rating and a $221.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $213.00.

CME Group Stock Performance

CME Group stock traded up $1.14 during mid-day trading on Thursday, reaching $224.71. The company’s stock had a trading volume of 828,252 shares, compared to its average volume of 1,956,342. The firm’s fifty day moving average price is $211.20 and its two-hundred day moving average price is $207.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. CME Group has a 12-month low of $190.70 and a 12-month high of $226.78. The company has a market capitalization of $80.91 billion, a P/E ratio of 25.56, a PEG ratio of 8.74 and a beta of 0.55.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.03. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that CME Group will post 9.94 EPS for the current fiscal year.

Insider Activity at CME Group

In other news, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction that occurred on 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 approximately $2,877,504.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Bryan T. Durkin sold 7,593 shares of the firm’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 transaction, the director now owns 55,607 shares in the company, valued at $11,932,706.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the company’s stock in a transaction on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CME Group

Hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in shares of CME Group in the first quarter worth about $28,000. Y.D. More Investments Ltd bought a new stake in shares of CME Group in the 2nd quarter worth approximately $36,000. McClarren Financial Advisors Inc. grew its position in shares of CME Group by 66.1% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after buying an additional 78 shares during the last quarter. Asset Dedication LLC increased its stake in shares of CME Group by 515.2% during the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock valued at $40,000 after buying an additional 170 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of CME Group during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

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.