CME Group (NASDAQ:CME) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of CME Group (NASDAQ:CME) in a report issued on Monday,Benzinga reports. They currently have a $235.00 target price on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Barclays lifted their price objective on shares of CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. TD Cowen assumed coverage on CME Group in a report on Thursday, September 26th. They issued a “hold” rating and a $221.00 target price for the company. The Goldman Sachs Group lifted their price target on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a report on Thursday, October 3rd. Finally, Oppenheimer upped their price target on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CME Group currently has an average rating of “Hold” and an average price target of $229.00.

CME Group Stock Performance

CME opened at $225.82 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a market cap of $81.38 billion, a PE ratio of 23.75, a P/E/G ratio of 5.41 and a beta of 0.56. The business has a fifty day simple moving average of $232.33 and a 200-day simple moving average of $217.92. CME Group has a fifty-two week low of $190.70 and a fifty-two week high of $249.02.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.03. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. CME Group had a return on equity of 13.39% and a net margin of 57.34%. CME Group’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the company posted $2.25 EPS. As a group, equities analysts predict that CME Group will post 10.22 EPS for the current fiscal year.

CME Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, December 27th will be issued a $5.80 dividend. The ex-dividend date is Friday, December 27th. This is an increase from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio is currently 48.37%.

CME Group announced that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Sunil Cutinho sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $226.64, for a total value of $1,019,880.00. Following the transaction, the insider now directly owns 27,053 shares of the company’s stock, valued at approximately $6,131,291.92. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin J. Gepsman sold 400 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the completion of the sale, the director now owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,274 shares of company stock valued at $1,648,071 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CME Group

A number of institutional investors have recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in CME Group in the 3rd quarter valued at $26,000. Dunhill Financial LLC boosted its holdings in CME Group by 188.4% during the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Y.D. More Investments Ltd bought a new stake in CME Group during the second quarter valued at about $36,000. Asset Dedication LLC grew 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 valued at $40,000 after purchasing an additional 170 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of CME Group by 62.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 74 shares during the period. 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.