Cboe Global Markets, Inc. $CBOE Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC cut its stake in Cboe Global Markets, Inc. (BATS:CBOE) by 40.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,600 shares of the company’s stock after selling 66,917 shares during the period. Cboe Global Markets accounts for 1.8% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Smith Group Asset Management LLC owned about 0.09% of Cboe Global Markets worth $26,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CBOE. Emerald Investment Advisers LLC bought a new stake in Cboe Global Markets during the second quarter valued at $3,686,000. Danske Bank A S acquired a new stake in Cboe Global Markets during the 2nd quarter worth about $658,000. Quantitative Investment Management LLC acquired a new stake in Cboe Global Markets during the 2nd quarter worth about $1,636,000. Bleakley Financial Group LLC acquired a new stake in Cboe Global Markets during the 1st quarter worth about $3,831,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of Cboe Global Markets by 316.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 8,681 shares of the company’s stock worth $2,107,000 after acquiring an additional 6,598 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Janet Froetscher sold 937 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $278.95, for a total transaction of $261,376.15. Following the transaction, the director owned 12,870 shares of the company’s stock, valued at $3,590,086.50. This represents a 6.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by company insiders.

Cboe Global Markets Stock Down 1.3%

Shares of BATS CBOE opened at $320.42 on Thursday. The firm has a market cap of $33.98 billion, a PE ratio of 165.17 and a beta of 0.61. Cboe Global Markets, Inc. has a 12-month low of $227.15 and a 12-month high of $371.18. The company’s fifty day simple moving average is $293.11 and its 200 day simple moving average is $291.23. 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 posted its quarterly earnings results on Friday, July 31st. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.07. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. During the same period last year, the company posted $2.46 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets announced that its Board of Directors has approved a share repurchase plan on Thursday, October 22nd that permits the company to repurchase $550 million in shares. This repurchase authorization permits the company to repurchase up to 1.6% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Cboe Global Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. Cboe Global Markets’s dividend payout ratio is 98.97%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CBOE shares. Wells Fargo & Company boosted their price objective on Cboe Global Markets from $301.00 to $309.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. Zacks Research lowered Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Barclays decreased their target price on Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Piper Sandler lowered their target price on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Loop Capital set a $332.00 price target on Cboe Global Markets in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $333.27.

Cboe Global Markets 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. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.