Cboe Global Markets (BATS:CBOE) Sets New 1-Year High – Here’s Why

Shares of Cboe Global Markets, Inc. (BATS:CBOE) hit a new 52-week high on Monday . The stock traded as high as $217.26 and last traded at $212.02, with a volume of 731143 shares. The stock had previously closed at $215.85.

Wall Street Analyst Weigh In

CBOE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Cboe Global Markets from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $212.00 to $222.00 in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price target on shares of Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Piper Sandler upped their target price on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen began coverage on Cboe Global Markets in a research report on Thursday, September 26th. They set a “hold” rating and a $205.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Cboe Global Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $168.00 to $195.00 in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $209.42.

Cboe Global Markets Stock Down 1.8 %

The firm has a 50-day moving average of $208.42 and a two-hundred day moving average of $195.30. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 111.26 and a beta of 0.61. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60.

Cboe Global Markets (BATS:CBOE) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The firm had revenue of $532.00 million for the quarter, compared to the consensus estimate of $530.46 million. During the same period in the previous year, the firm posted $2.06 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid 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 yield of 1.19%. Cboe Global Markets’s dividend payout ratio (DPR) is currently 98.97%.

Cboe Global Markets announced that its Board of Directors has approved a stock buyback plan on Friday, August 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, COO Christopher A. Isaacson sold 6,000 shares of Cboe Global Markets stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total value of $1,229,340.00. Following the transaction, the chief operating officer now owns 39,855 shares of the company’s stock, valued at $8,165,890.95. This trade represents a 13.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. This represents a 15.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cboe Global Markets

Several large investors have recently made changes to their positions in CBOE. National Bank of Canada FI raised its position in shares of Cboe Global Markets by 18.4% during the second quarter. National Bank of Canada FI now owns 35,069 shares of the company’s stock valued at $6,026,000 after buying an additional 5,458 shares during the last quarter. Americana Partners LLC grew its holdings in shares of Cboe Global Markets by 3.8% during the 2nd quarter. Americana Partners LLC now owns 2,444 shares of the company’s stock worth $416,000 after purchasing an additional 90 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Cboe Global Markets in the second quarter valued at $1,359,000. Burney Co. lifted its position in Cboe Global Markets by 59.9% in the second quarter. Burney Co. now owns 5,609 shares of the company’s stock worth $954,000 after purchasing an additional 2,102 shares during the period. Finally, Swedbank AB boosted its stake in Cboe Global Markets by 305.2% during the third quarter. Swedbank AB now owns 94,392 shares of the company’s stock worth $19,338,000 after buying an additional 71,097 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.