Morgan Stanley Boosts CME Group (NASDAQ:CME) Price Target to $233.00

CME Group (NASDAQ:CME) had its price target increased by Morgan Stanley from $210.00 to $233.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

CME has been the topic of several other reports. Bank of America raised their price objective on CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Redburn Atlantic downgraded CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price on the stock. in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Citigroup boosted their target price on shares of CME Group from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on CME Group from $193.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $220.07.

CME Group Stock Up 0.5 %

Shares of NASDAQ:CME opened at $228.32 on Thursday. CME Group has a 1 year low of $190.70 and a 1 year high of $230.12. The stock has a 50-day simple moving average of $216.92 and a 200-day simple moving average of $208.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $82.21 billion, a P/E ratio of 25.97, a PEG ratio of 7.76 and a beta of 0.55.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (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 company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $2.30 earnings per share. CME Group’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast that CME Group will post 10.04 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $4.60 annualized dividend and a dividend yield of 2.01%. CME Group’s dividend payout ratio is currently 52.33%.

Insider Activity at CME Group

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction dated Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the completion of the transaction, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The trade was a 0.00 % decrease in their position. The transaction 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 dated 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 completion of the transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction that occurred 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 directly owns 13,261 shares of the company’s stock, valued at approximately $2,877,504.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CME Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new position in shares of CME Group in the first quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new stake in CME Group during the 2nd quarter valued at $36,000. McClarren Financial Advisors Inc. lifted its holdings in shares of CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 78 shares in the last quarter. Asset Dedication LLC boosted its position in shares of CME Group by 515.2% in the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after buying an additional 170 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds 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.