Cboe Global Markets (BATS:CBOE) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Cboe Global Markets (BATS:CBOE) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $220.00 target price on the stock.

Several other brokerages have also weighed in on CBOE. Piper Sandler restated an overweight rating and issued a $210.00 price objective (up from $203.00) on shares of Cboe Global Markets in a report on Monday, August 5th. Keefe, Bruyette & Woods increased their target price on shares of Cboe Global Markets from $197.00 to $198.00 and gave the stock a market perform rating in a report on Monday, August 5th. TD Cowen initiated coverage on shares of Cboe Global Markets in a report on Thursday. They issued a hold rating and a $205.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cboe Global Markets from $186.00 to $205.00 and gave the stock a hold rating in a report on Thursday, August 15th. Finally, Barclays increased their target price on shares of Cboe Global Markets from $194.00 to $218.00 and gave the stock an overweight rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $201.62.

Cboe Global Markets Price Performance

Shares of Cboe Global Markets stock opened at $202.60 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 104.43 and a beta of 0.61. Cboe Global Markets has a 1-year low of $103.82 and a 1-year high of $139.00. The firm’s 50-day moving average price is $202.98 and its two-hundred day moving average price is $186.38.

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

Cboe Global Markets announced that its board has authorized a share buyback program on Friday, August 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cboe Global Markets Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, August 30th. Cboe Global Markets’s payout ratio is presently 98.97%.

Insiders Place Their Bets

In other Cboe Global Markets news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total transaction of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the transaction, the chief financial officer now owns 8,844 shares in the company, valued at approximately $1,886,690.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dave Howson sold 2,392 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 owns 12,681 shares in the company, valued at approximately $2,386,817.82. The disclosure for this sale can be found here. Insiders have sold 18,261 shares of company stock valued at $3,604,822 in the last ninety days. 0.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CBOE. Cim LLC lifted its position in shares of Cboe Global Markets by 3.4% during the 2nd quarter. Cim LLC now owns 5,998 shares of the company’s stock valued at $1,020,000 after acquiring an additional 200 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Cboe Global Markets during the 2nd quarter valued at $1,134,000. Truist Financial Corp lifted its position in shares of Cboe Global Markets by 11.1% during the 2nd quarter. Truist Financial Corp now owns 25,625 shares of the company’s stock valued at $4,358,000 after acquiring an additional 2,550 shares during the period. Regal Investment Advisors LLC lifted its position in shares of Cboe Global Markets by 0.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 22,274 shares of the company’s stock valued at $3,788,000 after acquiring an additional 56 shares during the period. Finally, Wellington Wealth Strategies LLC. acquired a new position in shares of Cboe Global Markets during the 2nd quarter valued at $261,000. 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.