M&T Bank Corp Has $21.20 Million Stock Position in CME Group Inc. (NASDAQ:CME)

M&T Bank Corp increased its holdings in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,069 shares of the financial services provider's stock after buying an additional 8,968 shares during the quarter. M&T Bank Corp's holdings in CME Group were worth $21,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in CME Group in the third quarter valued at about $26,000. Dunhill Financial LLC grew 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 in the last quarter. Y.D. More Investments Ltd purchased a new position in CME Group in the second quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in CME Group by 62.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insiders Place Their Bets

In related news, Director Martin J. Gepsman sold 400 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the transaction, the director now owns 25,067 shares in the company, valued at $5,587,935.64. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Bitsberger sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total value of $226,960.00. Following the transaction, the director now owns 10,589 shares of the company's stock, valued at $2,403,279.44. This trade represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,028 shares of company stock worth $1,811,681. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on CME shares. Bank of America boosted their target price on CME Group from $177.00 to $180.00 and gave the company an "underperform" rating in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price target on CME Group from $195.00 to $198.00 and gave the stock a "sell" rating in a research note on Thursday, October 3rd. Barclays upped their price target on CME Group from $231.00 to $257.00 and gave the stock an "equal weight" rating in a research note on Monday. TD Cowen began coverage on CME Group in a research note on Thursday, September 26th. They set a "hold" rating and a $221.00 price target for the company. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $235.00 price target on shares of CME Group in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, CME Group currently has an average rating of "Hold" and a consensus target price of $226.20.

CME Group Stock Performance

Shares of NASDAQ CME traded down $4.89 during trading hours on Wednesday, hitting $234.30. 3,689,291 shares of the company's stock were exchanged, compared to its average volume of 1,967,903. The company's 50-day moving average price is $228.48 and its 200-day moving average price is $213.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $84.43 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 5.52 and a beta of 0.56. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $249.02.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $2.25 EPS. The company's quarterly revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts expect that CME Group Inc. will post 10.22 earnings per share for the current fiscal year.

CME Group announced that its board has authorized a share buyback plan on Thursday, December 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

CME Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 16th. Shareholders of record on Friday, December 27th will be given a $5.80 dividend. The ex-dividend date is Friday, December 27th. This is an increase from CME Group's previous dividend of $2.50. CME Group's dividend payout ratio (DPR) is currently 48.37%.

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.