Cboe Global Markets (BATS:CBOE) Hits New 52-Week High – Here’s Why

Cboe Global Markets, Inc. (BATS:CBOE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $212.67 and last traded at $212.45, with a volume of 595911 shares traded. The stock had previously closed at $209.28.

Wall Street Analysts Forecast Growth

CBOE has been the topic of several analyst reports. Piper Sandler raised their price target on shares of 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 raised their target price on shares of Cboe Global Markets from $218.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Oppenheimer increased their price target on Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $168.00 to $195.00 in a research report on Monday, August 5th. Finally, Keefe, Bruyette & Woods upped their target price on Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cboe Global Markets presently has an average rating of “Hold” and an average target price of $208.75.

Cboe Global Markets Stock Down 0.2 %

The firm has a market cap of $22.63 billion, a P/E ratio of 109.99 and a beta of 0.61. The firm’s 50-day moving average price is $208.56 and its 200 day moving average price is $189.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21.

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

Cboe Global Markets Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.63 per share. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, August 30th. This represents a $2.52 annualized dividend and a yield of 1.18%. Cboe Global Markets’s dividend payout ratio is 98.97%.

Cboe Global Markets declared that its Board of Directors has approved a share buyback plan on Friday, August 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Jill Griebenow sold 1,622 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total value of $346,021.26. Following the sale, the chief financial officer now owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cboe Global Markets news, EVP Dave Howson sold 2,392 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $188.22, for a total transaction of $450,222.24. Following the completion of the transaction, the executive vice president now directly owns 12,681 shares of the company’s stock, valued at $2,386,817.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of the stock in a transaction on Wednesday, September 4th. The stock was 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 of the company’s stock, valued at approximately $1,886,690.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,761 shares of company stock valued at $3,138,147. 0.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBOE. Dakota Wealth Management increased its position in shares of Cboe Global Markets by 16.5% during the 3rd quarter. Dakota Wealth Management now owns 22,476 shares of the company’s stock valued at $4,605,000 after purchasing an additional 3,181 shares during the period. Assenagon Asset Management S.A. raised its position in Cboe Global Markets by 58.0% in the third quarter. Assenagon Asset Management S.A. now owns 4,862 shares of the company’s stock worth $996,000 after acquiring an additional 1,784 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Cboe Global Markets in the 3rd quarter valued at about $367,000. Brighton Jones LLC bought a new position in shares of Cboe Global Markets during the 3rd quarter valued at about $203,000. Finally, Axecap Investments LLC acquired a new position in shares of Cboe Global Markets in the 3rd quarter worth approximately $931,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.