Cboe Global Markets, Inc. $CBOE Stock: Smith Group Asset Management LLC Decreases Stake

Smith Group Asset Management LLC trimmed its position in shares of Cboe Global Markets, Inc. (BATS:CBOE) by 40.7% during the third quarter, Holdings Channel.com reports. The firm 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 holdings, making the stock its 28th biggest position. Smith Group Asset Management LLC’s holdings in Cboe Global Markets were worth $26,868,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cboe Global Markets in the 2nd quarter valued at $2,474,799,000. Deutsche Bank AG bought a new stake in Cboe Global Markets during the 2nd quarter valued at $491,465,000. Jupiter Topco LLC bought a new stake in Cboe Global Markets during the 2nd quarter valued at $304,917,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cboe Global Markets by 5.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 987,606 shares of the company’s stock valued at $239,662,000 after purchasing an additional 51,784 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Cboe Global Markets by 2.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 875,775 shares of the company’s stock worth $236,512,000 after buying an additional 17,321 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Cboe Global Markets Stock Down 1.3%

Shares of BATS:CBOE opened at $320.42 on Thursday. The business’s 50 day moving average is $293.11 and its 200 day moving average is $291.23. Cboe Global Markets, Inc. has a 12-month low of $227.15 and a 12-month high of $371.18. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 165.17 and a beta of 0.61. 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 released its quarterly earnings results on Friday, July 31st. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.07. The business had revenue of $731.60 million during the quarter, compared to analyst estimates of $716.61 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. Cboe Global Markets’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. On average, sell-side analysts forecast that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets declared that its board has authorized a share repurchase plan on Thursday, October 22nd that permits the company to buy back $550 million in shares. This buyback authorization permits the company to repurchase up to 1.6% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Cboe Global Markets Dividend Announcement

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

Insider Transactions at Cboe Global Markets

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

Analyst Upgrades and Downgrades

CBOE has been the topic of several research reports. Barclays lowered their price objective on shares of Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Loop Capital set a $332.00 price objective on shares of Cboe Global Markets in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Cboe Global Markets in a research report on Monday, August 3rd. TD Cowen boosted their target price on shares of Cboe Global Markets from $334.00 to $342.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, The Goldman Sachs Group upgraded shares of Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $333.27.

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.