Cboe Global Markets (BATS:CBOE) Reaches New 12-Month High Following Strong Earnings

Cboe Global Markets, Inc. (BATS:CBOE) shares hit a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $210.36 and last traded at $209.60, with a volume of 791179 shares. The stock had previously closed at $210.00.

The company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.03. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm had revenue of $532.00 million during the quarter, compared to the consensus estimate of $530.46 million. During the same period in the prior year, the business earned $2.06 EPS. The firm’s revenue was up 10.7% on a year-over-year basis.

Cboe Global Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.19%. Cboe Global Markets’s dividend payout ratio (DPR) is presently 98.97%.

Cboe Global Markets declared that its board has initiated a share repurchase plan on Friday, August 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBOE. Deutsche Bank Aktiengesellschaft cut their price target on Cboe Global Markets from $214.00 to $212.00 and set a “hold” rating on the stock in a report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $220.00 target price on shares of Cboe Global Markets in a research note on Monday. Piper Sandler increased their price target on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays lowered their price target on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer upped their price objective on shares of Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $208.58.

Insider Buying and Selling

In other news, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the sale, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jill Griebenow sold 1,622 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the completion of the sale, the chief financial officer now owns 8,844 shares in the company, valued at approximately $1,886,690.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher A. Isaacson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the completion of the transaction, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock worth $1,591,160 in the last three months. 0.51% of the stock is currently owned by insiders.

Institutional Trading of Cboe Global Markets

A number of hedge funds have recently modified their holdings of the business. Americana Partners LLC raised its position in Cboe Global Markets by 2.2% during the third quarter. Americana Partners LLC now owns 2,498 shares of the company’s stock valued at $512,000 after buying an additional 54 shares during the period. Regal Investment Advisors LLC grew its stake in Cboe Global Markets by 0.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 22,274 shares of the company’s stock valued at $3,788,000 after acquiring an additional 56 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Cboe Global Markets by 9.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 713 shares of the company’s stock valued at $121,000 after purchasing an additional 63 shares during the period. Kendall Capital Management lifted its position in shares of Cboe Global Markets by 0.9% in the second quarter. Kendall Capital Management now owns 9,410 shares of the company’s stock worth $1,600,000 after purchasing an additional 80 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Cboe Global Markets by 11.6% in the third quarter. Farther Finance Advisors LLC now owns 777 shares of the company’s stock worth $159,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Stock Performance

The firm’s fifty day moving average is $209.57 and its 200 day moving average is $191.79. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 109.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.