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

Cboe Global Markets, Inc. (BATS:CBOE)’s share price hit a new 52-week high during trading on Monday following a stronger than expected earnings report. 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, beating 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 for the quarter, compared to analysts’ expectations of $530.46 million. During the same quarter in the prior year, the firm earned $2.06 EPS. Cboe Global Markets’s quarterly revenue was up 10.7% on a year-over-year basis.

Cboe Global Markets Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays decreased their price objective on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen started coverage on Cboe Global Markets in a report on Thursday, September 26th. They issued a “hold” rating and a $205.00 price target for the company. Piper Sandler upped their price objective on shares of Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $168.00 to $195.00 in a research report on Monday, August 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a research report on Monday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. 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 at Cboe Global Markets

In other news, CFO Jill Griebenow sold 1,622 shares of the company’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 transaction, the chief financial officer now directly owns 8,844 shares in the company, valued at approximately $1,886,690.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction dated 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 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 sold 7,696 shares of company stock valued at $1,591,160 over the last 90 days. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Cboe Global Markets

A number of hedge funds have recently made changes to their positions in CBOE. Sequoia Financial Advisors LLC grew its holdings in Cboe Global Markets by 13.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,552 shares of the company’s stock worth $285,000 after acquiring an additional 181 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cboe Global Markets by 1.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,079 shares of the company’s stock valued at $4,240,000 after buying an additional 273 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Cboe Global Markets by 52.3% during the first quarter. Janney Montgomery Scott LLC now owns 28,279 shares of the company’s stock valued at $5,196,000 after buying an additional 9,712 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Cboe Global Markets by 22.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,785 shares of the company’s stock worth $2,533,000 after buying an additional 2,536 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Cboe Global Markets during the 1st quarter worth approximately $98,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Cboe Global Markets Trading Up 1.3 %

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a market cap of $22.52 billion, a price-to-earnings ratio of 109.47 and a beta of 0.61. The firm has a 50-day moving average price of $209.57 and a 200 day moving average price of $191.79.

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.