Bank of America Boosts CME Group (CME) Price Target to $175.00
CME Group (NASDAQ:CME) had its price objective increased by Bank of America from $173.00 to $175.00 in a research note issued to investors on Friday morning. The firm currently has a buy rating on the financial services provider’s stock.
CME has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of CME Group from $135.00 to $147.00 and gave the stock an outperform rating in a research note on Monday, October 16th. BidaskClub upgraded shares of CME Group from a hold rating to a buy rating in a research note on Tuesday, January 9th. Berenberg Bank initiated coverage on shares of CME Group in a research note on Thursday, January 25th. They set a hold rating and a $170.00 price objective on the stock. Zacks Investment Research upgraded shares of CME Group from a hold rating to a buy rating and set a $164.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, Barclays increased their price objective on shares of CME Group from $139.00 to $149.00 and gave the company an overweight rating in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $155.08.
CME Group (NASDAQ:CME) opened at $153.96 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.03 and a quick ratio of 1.05. The company has a market cap of $52,390.00, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.11 and a beta of 0.64. CME Group has a one year low of $114.82 and a one year high of $163.00.
The firm also recently disclosed a dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were paid a dividend of $3.50 per share. The ex-dividend date was Wednesday, December 27th. This is an increase from CME Group’s previous dividend of $3.25. CME Group’s dividend payout ratio (DPR) is currently 22.11%.
In other CME Group news, insider Sunil Cutinho sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $139.57, for a total value of $362,882.00. Following the completion of the sale, the insider now directly owns 22,301 shares in the company, valued at $3,112,550.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John W. Pietrowicz sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $151.50, for a total transaction of $1,136,250.00. Following the completion of the sale, the chief financial officer now owns 32,376 shares of the company’s stock, valued at $4,904,964. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,428 shares of company stock valued at $5,527,779. 0.57% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. ST Germain D J Co. Inc. acquired a new stake in CME Group in the third quarter valued at approximately $232,000. Nippon Life Global Investors Americas Inc. boosted its stake in CME Group by 6.1% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 87,970 shares of the financial services provider’s stock valued at $11,935,000 after acquiring an additional 5,080 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of CME Group by 7.8% in the third quarter. California Public Employees Retirement System now owns 837,382 shares of the financial services provider’s stock worth $113,616,000 after buying an additional 60,652 shares during the last quarter. First National Trust Co. raised its holdings in shares of CME Group by 21.8% in the third quarter. First National Trust Co. now owns 16,699 shares of the financial services provider’s stock worth $2,266,000 after buying an additional 2,990 shares during the last quarter. Finally, Viking Fund Management LLC raised its holdings in shares of CME Group by 4.3% in the fourth quarter. Viking Fund Management LLC now owns 29,200 shares of the financial services provider’s stock worth $4,265,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.
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CME Group Company Profile
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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