M&T Bank Corp Reduces Stock Holdings in CME Group Inc (NASDAQ:CME)

M&T Bank Corp decreased its stake in CME Group Inc (NASDAQ:CME) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,630 shares of the financial services provider’s stock after selling 2,993 shares during the quarter. M&T Bank Corp’s holdings in CME Group were worth $13,593,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pearl River Capital LLC lifted its stake in shares of CME Group by 246.7% during the 4th quarter. Pearl River Capital LLC now owns 1,484 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 1,056 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of CME Group by 14.8% during the 4th quarter. Macquarie Group Ltd. now owns 562,462 shares of the financial services provider’s stock worth $112,898,000 after acquiring an additional 72,558 shares during the last quarter. Stillwater Investment Management LLC lifted its stake in shares of CME Group by 10.8% during the 1st quarter. Stillwater Investment Management LLC now owns 1,665 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 162 shares during the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of CME Group by 6.0% during the 1st quarter. Burns J W & Co. Inc. NY now owns 19,782 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 1,115 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of CME Group by 6.5% during the 1st quarter. State of Alaska Department of Revenue now owns 97,205 shares of the financial services provider’s stock worth $16,807,000 after acquiring an additional 5,934 shares during the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

A number of equities research analysts have weighed in on the company. BidaskClub lowered CME Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 14th. UBS Group lifted their target price on CME Group from $222.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods lowered CME Group from a “market perform” rating to an “underperform” rating in a research report on Sunday, April 19th. Citigroup lifted their target price on CME Group from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Credit Suisse Group decreased their target price on CME Group from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Tuesday, June 23rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $187.88.

Shares of CME stock opened at $166.18 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.01. The stock’s fifty day moving average price is $169.99 and its 200 day moving average price is $186.20. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.30. CME Group Inc has a 1-year low of $131.80 and a 1-year high of $225.36.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. CME Group had a return on equity of 9.93% and a net margin of 46.39%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 EPS. As a group, equities research analysts anticipate that CME Group Inc will post 7.15 earnings per share for the current year.

In other news, Director William R. Shepard purchased 1,229 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $178.10 per share, for a total transaction of $218,884.90. Following the purchase, the director now owns 2,000 shares in the company, valued at $356,200. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William R. Shepard purchased 771 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $178.10 per share, for a total transaction of $137,315.10. Following the purchase, the director now owns 771 shares in the company, valued at approximately $137,315.10. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

CME Group Company Profile

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 commodities, and metals, as well as fixed income products.

Further Reading: How does a reverse stock split work?

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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