Cboe Global Markets (BATS:CBOE) Sets New 52-Week High After Better-Than-Expected Earnings

Cboe Global Markets, Inc. (BATS:CBOE) shares reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $326.01 and last traded at $323.1040, with a volume of 192284 shares changing hands. The stock had previously closed at $300.09.

The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.33. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. During the same period last year, the company earned $2.50 EPS. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year.

Cboe Global Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, February 27th. Cboe Global Markets’s payout ratio is currently 98.97%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Argus raised shares of Cboe Global Markets to a “hold” rating in a report on Wednesday, March 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $303.00 price target on shares of Cboe Global Markets in a report on Monday, February 9th. TD Cowen reiterated a “hold” rating on shares of Cboe Global Markets in a research note on Thursday, April 9th. Zacks Research upgraded shares of Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Loop Capital set a $293.00 price objective on shares of Cboe Global Markets in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cboe Global Markets has a consensus rating of “Hold” and an average target price of $294.20.

Insider Transactions at Cboe Global Markets

In other news, Director Alexander Matturri, Jr. sold 1,500 shares of Cboe Global Markets stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $285.36, for a total transaction of $428,040.00. Following the completion of the sale, the director directly owned 4,761 shares in the company, valued at approximately $1,358,598.96. The trade was a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Allen Wilkinson sold 248 shares of Cboe Global Markets stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $292.79, for a total transaction of $72,611.92. Following the sale, the chief accounting officer owned 410 shares of the company’s stock, valued at $120,043.90. The trade was a 37.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 5,695 shares of company stock worth $1,628,981. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caprock Group LLC purchased a new stake in shares of Cboe Global Markets during the third quarter worth about $4,156,000. Andra AP fonden increased its stake in shares of Cboe Global Markets by 7.9% during the third quarter. Andra AP fonden now owns 124,200 shares of the company’s stock worth $30,460,000 after purchasing an additional 9,100 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Cboe Global Markets by 33.5% during the fourth quarter. Nordea Investment Management AB now owns 947,884 shares of the company’s stock worth $239,625,000 after purchasing an additional 237,887 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cboe Global Markets by 557.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,649 shares of the company’s stock worth $9,070,000 after purchasing an additional 31,919 shares in the last quarter. Finally, Vest Financial LLC increased its stake in shares of Cboe Global Markets by 25.7% during the third quarter. Vest Financial LLC now owns 24,929 shares of the company’s stock worth $6,114,000 after purchasing an additional 5,100 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Cboe Global Markets Stock Up 9.1%

The firm has a market cap of $34.73 billion, a PE ratio of 168.25 and a beta of 0.61. The business’s 50 day moving average price is $293.40 and its 200 day moving average price is $269.81. 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 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. 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.