Cboe Global Markets (BATS:CBOE) Sets New 12-Month High – Here’s Why

Cboe Global Markets, Inc. (BATS:CBOE)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $214.26 and last traded at $213.29, with a volume of 2012145 shares trading hands. The stock had previously closed at $213.26.

Wall Street Analyst Weigh In

CBOE has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted 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. Barclays lowered their target price on shares of Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and increased their price target for the company from $168.00 to $195.00 in a research note on Monday, August 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $220.00 price target on shares of Cboe Global Markets in a research report on Monday, November 4th. Finally, Oppenheimer increased their target price on Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $209.42.

Cboe Global Markets Stock Up 0.4 %

The stock has a market capitalization of $23.14 billion, a P/E ratio of 112.01 and a beta of 0.61. The firm’s 50-day simple moving average is $207.90 and its 200 day simple moving average is $194.53. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

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

Cboe Global Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s payout ratio is currently 98.97%.

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

Insiders Place Their Bets

In other news, COO Christopher A. Isaacson sold 6,000 shares of the 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 transaction, the chief operating officer now owns 39,855 shares in the company, valued at approximately $8,165,890.95. This trade represents a 13.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,886,690.52. This trade represents a 15.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

A number of large investors have recently added to or reduced their stakes in CBOE. Tidal Investments LLC raised its position in shares of Cboe Global Markets by 7.2% in the 1st quarter. Tidal Investments LLC now owns 13,541 shares of the company’s stock valued at $2,488,000 after buying an additional 904 shares in the last quarter. Comerica Bank raised its stake in Cboe Global Markets by 42.6% during the first quarter. Comerica Bank now owns 30,009 shares of the company’s stock worth $5,514,000 after acquiring an additional 8,970 shares in the last quarter. iA Global Asset Management Inc. raised its stake in Cboe Global Markets by 16.6% during the first quarter. iA Global Asset Management Inc. now owns 4,256 shares of the company’s stock worth $782,000 after acquiring an additional 607 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Cboe Global Markets in the first quarter worth about $77,000. Finally, Swedbank AB acquired a new stake in shares of Cboe Global Markets in the 1st quarter valued at approximately $844,000. 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.