Covea Finance Trims Position in Cboe Global Markets, Inc. $CBOE

Covea Finance decreased its holdings in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,200 shares of the company’s stock after selling 5,900 shares during the period. Covea Finance’s holdings in Cboe Global Markets were worth $9,859,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CBOE. Bank of Montreal Can increased its stake in Cboe Global Markets by 19.1% in the 2nd quarter. Bank of Montreal Can now owns 241,995 shares of the company’s stock valued at $56,436,000 after buying an additional 38,872 shares during the period. Peak Financial Advisors LLC acquired a new position in shares of Cboe Global Markets during the third quarter worth about $2,074,000. Stevens Capital Management LP acquired a new position in shares of Cboe Global Markets during the second quarter worth about $531,000. Benedict Financial Advisors Inc. raised its holdings in Cboe Global Markets by 235.4% during the second quarter. Benedict Financial Advisors Inc. now owns 33,017 shares of the company’s stock worth $7,700,000 after purchasing an additional 23,173 shares in the last quarter. Finally, Promethium Advisors LLC lifted its position in Cboe Global Markets by 36.9% in the first quarter. Promethium Advisors LLC now owns 10,696 shares of the company’s stock valued at $2,420,000 after purchasing an additional 2,884 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CBOE. UBS Group lifted their price objective on Cboe Global Markets from $255.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Loop Capital set a $310.00 price target on Cboe Global Markets in a report on Wednesday, December 10th. Zacks Research raised Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Morgan Stanley increased their price objective on Cboe Global Markets from $221.00 to $240.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Barclays boosted their target price on shares of Cboe Global Markets from $264.00 to $273.00 and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $246.62.

Cboe Global Markets Stock Performance

NASDAQ CBOE opened at $255.96 on Friday. The business has a 50 day moving average price of $250.58 and a 200 day moving average price of $242.25. The company has a market capitalization of $26.78 billion, a P/E ratio of 35.45, a PEG ratio of 1.75 and a beta of 0.36. Cboe Global Markets, Inc. has a 1-year low of $187.30 and a 1-year high of $262.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39.

Cboe Global Markets (NASDAQ:CBOE) last posted its earnings results on Friday, October 31st. The company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.14. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%.During the same quarter in the prior year, the business earned $2.22 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts expect that Cboe Global Markets, Inc. will post 8.96 EPS for the current fiscal year.

Cboe Global Markets Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.72 per share. This represents a yield of 112.0%. The ex-dividend date was Friday, November 28th. Cboe Global Markets’s dividend payout ratio (DPR) is 30.93%.

Cboe Global Markets Profile

Cboe Global Markets (NASDAQ: CBOE) is a global market infrastructure company that operates a family of exchanges and trading venues across listed derivatives, cash equities and foreign exchange. Its product suite includes options and futures markets, multiple U.S. equities exchanges, a derivatives exchange for volatility and other products, proprietary benchmark indexes (notably the Cboe Volatility Index, or VIX), market data and analytics, and trading technology and connectivity services. Cboe also provides market-access and order-routing tools used by broker-dealers, institutional investors and professional traders.

The company traces its roots to the Chicago Board Options Exchange, which was established in 1973 to create a centralized market for listed options; over the years the business expanded through organic growth and strategic acquisitions to become a multi-asset, multi-venue operator.