Comerica Bank Trims Position in CME Group Inc. (NASDAQ:CME)

Comerica Bank reduced its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,318 shares of the financial services provider's stock after selling 4,340 shares during the period. Comerica Bank's holdings in CME Group were worth $20,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CME. New Age Alpha Advisors LLC grew its position in 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 worth $30,000 after purchasing an additional 43 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in CME Group by 2.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,769 shares of the financial services provider's stock worth $411,000 after acquiring an additional 45 shares during the period. TFC Financial Management Inc. raised its position in CME Group by 8.4% during the fourth quarter. TFC Financial Management Inc. now owns 592 shares of the financial services provider's stock valued at $137,000 after acquiring an additional 46 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in CME Group by 2.0% in the fourth quarter. Waldron Private Wealth LLC now owns 2,362 shares of the financial services provider's stock valued at $549,000 after acquiring an additional 47 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in CME Group by 12.1% in the 4th quarter. Venturi Wealth Management LLC now owns 437 shares of the financial services provider's stock worth $101,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Trading Up 0.0 %

Shares of CME opened at $277.11 on Friday. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $278.35. The stock has a market cap of $99.86 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 6.76 and a beta of 0.43. The firm's fifty day moving average is $260.75 and its two-hundred day moving average is $243.22. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $0.19. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.56 billion. CME Group had a net margin of 57.52% and a return on equity of 13.62%. CME Group's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. Research analysts forecast that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 7th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from CME Group's previous quarterly dividend of $1.15. CME Group's dividend payout ratio (DPR) is currently 50.30%.

Analyst Ratings Changes

Several research firms recently issued reports on CME. Piper Sandler boosted their target price on shares of CME Group from $275.00 to $283.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Erste Group Bank upgraded shares of CME Group to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley raised their target price on CME Group from $301.00 to $304.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Raymond James raised CME Group from a "market perform" rating to an "outperform" rating and set a $287.00 price target for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $269.00 price objective on shares of CME Group in a report on Thursday, April 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $256.80.

Insider Buying and Selling

In other news, Director Dennis Suskind sold 1,000 shares of CME Group stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $271.28, for a total transaction of $271,280.00. Following the sale, the director now owns 2,915 shares of the company's stock, valued at approximately $790,781.20. The trade was a 25.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Suzanne Sprague sold 1,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $256.83, for a total value of $385,245.00. Following the completion of the transaction, the chief operating officer now owns 8,036 shares of the company's stock, valued at $2,063,885.88. The trade was a 15.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,076 shares of company stock worth $7,670,976. 0.30% of the stock is owned by corporate insiders.

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.

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