Covea Finance Decreases Holdings in Cboe Global Markets, Inc. (BATS:CBOE)

Covea Finance lessened its stake in shares of Cboe Global Markets, Inc. (BATS:CBOE) by 38.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,300 shares of the company’s stock after selling 7,200 shares during the quarter. Covea Finance’s holdings in Cboe Global Markets were worth $2,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Cboe Global Markets by 700.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $163,000 after purchasing an additional 700 shares in the last quarter. Marion Wealth Management boosted its position in Cboe Global Markets by 2.9% in the 3rd quarter. Marion Wealth Management now owns 10,887 shares of the company’s stock valued at $2,230,000 after buying an additional 305 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Cboe Global Markets by 3.9% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,000 shares of the company’s stock valued at $615,000 after acquiring an additional 113 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Cboe Global Markets during the third quarter worth about $205,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cboe Global Markets by 91.3% in the third quarter. GAMMA Investing LLC now owns 1,693 shares of the company’s stock worth $347,000 after acquiring an additional 808 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CBOE shares. Piper Sandler lifted their price objective on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a report on Monday, August 5th. TD Cowen started coverage on shares of Cboe Global Markets in a report on Thursday, September 26th. They set a “hold” rating and a $205.00 price objective for the company. Oppenheimer upped their target price on shares of Cboe Global Markets from $199.00 to $209.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cboe Global Markets from $186.00 to $205.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cboe Global Markets currently has a consensus rating of “Hold” and a consensus target price of $207.25.

Insider Buying and Selling at Cboe Global Markets

In other Cboe Global Markets news, EVP Catherine R. Clay sold 600 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $203.23, for a total transaction of $121,938.00. Following the completion of the transaction, the executive vice president now owns 4,328 shares in the company, valued at approximately $879,579.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Dave Howson sold 2,500 shares of Cboe Global Markets stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the transaction, the executive vice president now directly owns 15,073 shares in the company, valued at approximately $2,813,676.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Catherine R. Clay sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $203.23, for a total value of $121,938.00. Following the transaction, the executive vice president now directly owns 4,328 shares of the company’s stock, valued at $879,579.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,261 shares of company stock worth $3,604,822. 0.51% of the stock is owned by company insiders.

Cboe Global Markets Stock Performance

Shares of BATS CBOE traded down $0.80 during mid-day trading on Friday, hitting $206.00. The company had a trading volume of 660,256 shares, compared to its average volume of 636,231. Cboe Global Markets, Inc. has a 12 month low of $103.82 and a 12 month high of $139.00. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 106.05 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. The firm’s 50 day simple moving average is $207.29 and its two-hundred day simple moving average is $188.10.

Cboe Global Markets (BATS:CBOE) last announced its quarterly earnings results on Friday, August 2nd. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.05. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The company had revenue of $513.80 million during the quarter, compared to the consensus estimate of $514.51 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.63 dividend. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.52 annualized dividend and a yield of 1.22%. Cboe Global Markets’s dividend payout ratio is 98.97%.

Cboe Global Markets announced that its board has approved a share repurchase program on Friday, August 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cboe Global Markets Company Profile

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.