JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CME Group (NASDAQ:CME) Stock

CME Group (NASDAQ:CME) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $209.00 to $212.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 13.64% from the company’s previous close.

Several other research firms have also weighed in on CME. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price objective on shares of CME Group in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their target price on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research report on Monday, November 11th. Barclays boosted their target price on CME Group from $257.00 to $263.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup lowered CME Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Finally, Piper Sandler boosted their target price on CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, CME Group has an average rating of “Hold” and a consensus price target of $234.13.

CME Group Stock Performance

CME stock opened at $245.48 on Thursday. The stock has a 50-day moving average price of $235.82 and a 200-day moving average price of $225.25. CME Group has a 1-year low of $190.70 and a 1-year high of $253.53. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a market cap of $88.46 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 5.54 and a beta of 0.57.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.06. CME Group had a return on equity of 13.39% and a net margin of 57.34%. As a group, equities research analysts expect that CME Group will post 10.18 earnings per share for the current year.

CME Group declared that its Board of Directors has authorized a share repurchase program on Thursday, December 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at CME Group

In related news, insider Julie Winkler sold 11,592 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total value of $2,888,378.64. Following the transaction, the insider now owns 21,885 shares in the company, valued at approximately $5,453,085.45. This represents a 34.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CME Group

Institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in CME Group in the third quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its stake in CME Group by 570.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 97 shares during the last quarter. Dunhill Financial LLC lifted its stake in CME Group by 188.4% in the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. New Age Alpha Advisors LLC lifted its stake in CME Group by 50.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Finally, Financial Life Planners purchased a new stake in shares of CME Group during the fourth quarter worth $32,000. 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.