Key Points
- Insider sale: CME Group insider Sunil Cutinho sold 5,000 shares for approximately $1.49 million, reducing his holdings by nearly 20% to 20,037 shares.
- Strong quarterly results: CME reported $3.02 in quarterly EPS and $1.74 billion in revenue, exceeding analyst expectations; revenue increased 10.6% year over year.
- Mixed analyst outlook: Analysts have an average “Hold” rating and a consensus price target of $313.29, while CME maintains a quarterly dividend of $1.30 per share.
CME Group Inc. (NASDAQ:CME - Get Free Report) insider Sunil Cutinho sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $298.70, for a total value of $1,493,500.00. Following the sale, the insider owned 20,037 shares in the company, valued at approximately $5,985,051.90. This trade represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
CME Group Price Performance
CME Group stock opened at $293.48 on Wednesday. The business's fifty day moving average is $278.65 and its two-hundred day moving average is $279.51. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16.
CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $3.02 EPS for the quarter, topping the consensus estimate of $2.99 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $2.68 EPS. CME Group's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts expect that CME Group Inc. will post 12.34 earnings per share for the current fiscal year.
CME Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, September 9th.
Key Headlines Impacting CME Group
Here are the key news stories impacting CME Group this week:
- Positive Sentiment: CME Group reported record third-quarter revenue of approximately $1.74 billion and record average daily volume of 29.4 million contracts. October activity is also tracking at the highest October average daily volume on record, supporting the company’s growth outlook. CME Group Slides as Investors Digest Recent Earnings and Mixed Post-Report Signals
- Positive Sentiment: Zacks upgraded CME Group to Rank #2, or “Buy,” citing improving optimism about the company’s earnings prospects. CME Upgraded to Buy: Here's Why
- Positive Sentiment: Brazilian real futures traded a record daily volume following Brazil’s election, highlighting demand for CME’s products during periods of political and currency-market volatility. CME Group Brazilian Real Futures Set New Daily Volume Record Following Election
- Neutral Sentiment: Analyst price targets remain mixed, with a reported median target of $305 and recent targets ranging from $260 to $323, indicating support for the business but limited consensus on near-term upside.
- Negative Sentiment: Investors may be digesting last week’s earnings announcement after a significant share-price run-up. Although results were strong, they may not have exceeded elevated expectations enough to sustain momentum, prompting profit-taking or a valuation reset. CME Group Slides as Investors Digest Recent Earnings and Mixed Post-Report Signals
- Negative Sentiment: Insider Sunil Cutinho sold 5,000 shares worth approximately $1.49 million, reducing his direct holdings by nearly 20%. The transaction is a modest sentiment negative, although one insider sale does not necessarily indicate a change in CME’s fundamentals. Sunil Cutinho Insider Trading Activity
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of CME Group from $270.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. Bank of America raised their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a research report on Thursday, July 23rd. Weiss Ratings raised shares of CME Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of CME Group from $315.00 to $333.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Finally, TD Cowen upped their target price on shares of CME Group from $292.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CME Group presently has an average rating of "Hold" and an average target price of $313.29.
Get Our Latest Stock Analysis on CME Group
Institutional Investors Weigh In On CME Group
Several hedge funds and other institutional investors have recently made changes to their positions in CME. BlackRock Inc. bought a new stake in shares of CME Group during the second quarter worth $6,749,965,000. Bank of New York Mellon Corp acquired a new position in shares of CME Group during the second quarter valued at $867,313,000. Alphabet Inc. acquired a new position in shares of CME Group during the second quarter valued at $769,376,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CME Group in the second quarter valued at about $629,771,000. Finally, Bank of America Corp DE bought a new position in CME Group in the second quarter valued at about $622,679,000. 87.75% of the stock is owned by institutional investors and hedge funds.
About CME Group
(
Get Free Report)
CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.
CME Group's exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.
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