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

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

Other equities analysts have also issued research reports about the company. Barclays increased their target price on CME Group from $257.00 to $263.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research note on Monday, November 11th. Keefe, Bruyette & Woods lowered their price objective on CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Piper Sandler raised their price objective on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research note on Monday, January 6th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $234.13.

CME Group Stock Performance

CME opened at $245.48 on Thursday. CME Group has a 12-month low of $190.70 and a 12-month high of $253.53. The stock has a market cap of $88.46 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 5.54 and a beta of 0.57. The business has a 50 day moving average of $235.82 and a 200-day moving average of $225.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

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

CME Group announced that its board has authorized a stock buyback plan on Thursday, December 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at CME Group

In related news, insider Julie Winkler sold 11,592 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total transaction of $2,888,378.64. Following the sale, the insider now owns 21,885 shares of the company’s stock, valued at $5,453,085.45. This trade represents a 34.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CME Group

Several hedge funds have recently modified their holdings of the company. New Age Alpha Advisors LLC boosted its holdings in shares of CME Group by 50.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in CME Group by 0.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,810 shares of the financial services provider’s stock worth $1,723,000 after buying an additional 45 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in CME Group by 2.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,769 shares of the financial services provider’s stock worth $411,000 after buying an additional 45 shares during the period. TFC Financial Management Inc. lifted its holdings in CME Group by 8.4% during the 4th quarter. TFC Financial Management Inc. now owns 592 shares of the financial services provider’s stock worth $137,000 after buying an additional 46 shares during the period. Finally, Waldron Private Wealth LLC lifted its holdings in CME Group by 2.0% during the 4th quarter. Waldron Private Wealth LLC now owns 2,362 shares of the financial services provider’s stock worth $549,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Company Profile

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.