Municipal Employees Retirement System of Michigan lowered its stake in CBOE Holdings, Inc. (NASDAQ:CBOE) by 92.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,950 shares of the financial services provider’s stock after selling 34,240 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in CBOE Holdings were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CBOE. LMR Partners LLP purchased a new stake in shares of CBOE Holdings during the first quarter valued at $7,627,000. Alliancebernstein L.P. boosted its stake in shares of CBOE Holdings by 160.6% in the first quarter. Alliancebernstein L.P. now owns 144,173 shares of the financial services provider’s stock worth $11,688,000 after buying an additional 88,842 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of CBOE Holdings during the first quarter worth approximately $145,333,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of CBOE Holdings during the first quarter worth approximately $1,276,000. Finally, Neuberger Berman Group LLC boosted its stake in shares of CBOE Holdings by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 307,935 shares of the financial services provider’s stock worth $24,964,000 after buying an additional 1,210 shares during the period. 78.61% of the stock is owned by hedge funds and other institutional investors.

Shares of CBOE Holdings, Inc. (CBOE) traded down 1.57% during trading on Friday, hitting $93.50. The company had a trading volume of 1,228,860 shares. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 52.18 and a beta of 0.49. The stock has a 50-day moving average of $91.72 and a 200 day moving average of $84.01. CBOE Holdings, Inc. has a 12-month low of $61.58 and a 12-month high of $95.95.

CBOE Holdings (NASDAQ:CBOE) last issued its earnings results on Friday, August 4th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The business had revenue of $266.90 million during the quarter, compared to the consensus estimate of $266.22 million. CBOE Holdings had a return on equity of 24.30% and a net margin of 18.03%. The firm’s revenue for the quarter was up 85.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, analysts predict that CBOE Holdings, Inc. will post $3.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.27 dividend. This is an increase from CBOE Holdings’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, August 30th. CBOE Holdings’s payout ratio is presently 54.64%.

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A number of analysts have recently commented on CBOE shares. Zacks Investment Research raised CBOE Holdings from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, April 11th. BidaskClub cut CBOE Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Deutsche Bank AG upped their price target on CBOE Holdings from $76.00 to $79.00 and gave the company a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 price target on shares of CBOE Holdings in a research note on Monday, April 10th. Finally, Citigroup Inc. started coverage on CBOE Holdings in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $93.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. CBOE Holdings has an average rating of “Hold” and a consensus price target of $76.38.

In other CBOE Holdings news, VP Christopher A. Isaacson sold 7,316 shares of CBOE Holdings stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $89.21, for a total value of $652,660.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Edward T. Tilly sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $86.85, for a total value of $434,250.00. Following the completion of the sale, the chairman now directly owns 80,611 shares of the company’s stock, valued at approximately $7,001,065.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,316 shares of company stock valued at $21,150,160. 0.96% of the stock is currently owned by corporate insiders.

CBOE Holdings Company Profile

CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).

Institutional Ownership by Quarter for CBOE Holdings (NASDAQ:CBOE)

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