BidaskClub Upgrades CME Group (CME) to Strong-Buy
BidaskClub upgraded shares of CME Group (NASDAQ:CME) from a buy rating to a strong-buy rating in a report issued on Tuesday.
Other equities analysts have also issued reports about the company. Jefferies Financial Group reissued a buy rating and set a $190.00 price target on shares of CME Group in a research report on Wednesday, September 5th. Zacks Investment Research raised CME Group from a sell rating to a hold rating in a research report on Wednesday, October 3rd. Berenberg Bank set a $184.00 price target on CME Group and gave the stock a hold rating in a research report on Thursday, September 20th. Wells Fargo & Co boosted their price target on CME Group from $170.00 to $175.00 and gave the stock a market perform rating in a research report on Monday, July 9th. Finally, Rosenblatt Securities initiated coverage on CME Group in a research report on Wednesday, September 5th. They set a neutral rating and a $177.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. CME Group currently has a consensus rating of Buy and a consensus target price of $178.93.
CME Group stock opened at $176.50 on Tuesday. The company has a market cap of $57.79 billion, a P/E ratio of 37.08, a P/E/G ratio of 3.20 and a beta of 0.64. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.15. CME Group has a one year low of $132.33 and a one year high of $182.97.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Monday, September 10th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, September 7th. CME Group’s payout ratio is 58.70%.
In other CME Group news, President Bryan T. Durkin sold 11,509 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $162.01, for a total value of $1,864,573.09. Following the transaction, the president now directly owns 64,862 shares of the company’s stock, valued at approximately $10,508,292.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald A. Pankau sold 260 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $163.17, for a total value of $42,424.20. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at $636,363. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,688 shares of company stock worth $4,523,957. 0.43% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Oklahoma acquired a new stake in shares of CME Group during the 3rd quarter valued at approximately $511,000. Bank of Montreal Can raised its position in shares of CME Group by 20.6% during the 3rd quarter. Bank of Montreal Can now owns 480,588 shares of the financial services provider’s stock valued at $81,801,000 after acquiring an additional 82,181 shares in the last quarter. Pittenger & Anderson Inc. raised its position in shares of CME Group by 1.3% during the 3rd quarter. Pittenger & Anderson Inc. now owns 61,396 shares of the financial services provider’s stock valued at $10,450,000 after acquiring an additional 790 shares in the last quarter. Biltmore Wealth Management LLC acquired a new stake in shares of CME Group during the 3rd quarter valued at approximately $681,000. Finally, Windward Capital Management Co. CA raised its position in shares of CME Group by 0.6% during the 3rd quarter. Windward Capital Management Co. CA now owns 100,992 shares of the financial services provider’s stock valued at $17,190,000 after acquiring an additional 585 shares in the last quarter. 84.03% of the stock is currently owned by institutional investors.
About CME Group
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals.
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