Cboe Global Markets, Inc. $CBOE Stock: Sterling Capital Management LLC Boosts Position

Sterling Capital Management LLC boosted its stake in Cboe Global Markets, Inc. (BATS:CBOE) by 101.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,365 shares of the company’s stock after acquiring an additional 3,213 shares during the period. Sterling Capital Management LLC’s holdings in Cboe Global Markets were worth $1,752,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Cboe Global Markets during the 2nd quarter valued at approximately $2,474,799,000. Deutsche Bank AG bought a new stake in shares of Cboe Global Markets in the 2nd quarter worth approximately $491,465,000. Jupiter Topco LLC bought a new stake in shares of Cboe Global Markets in the 2nd quarter worth approximately $304,917,000. Legal & General Group Plc bought a new stake in shares of Cboe Global Markets in the 2nd quarter worth approximately $175,870,000. Finally, Bank of America Corp DE purchased a new position in Cboe Global Markets in the second quarter valued at approximately $162,794,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CBOE shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Cboe Global Markets in a report on Monday, August 3rd. Zacks Research lowered Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Loop Capital set a $343.00 price target on Cboe Global Markets in a research report on Wednesday, October 7th. TD Cowen increased their price target on Cboe Global Markets from $334.00 to $342.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. increased their price target on Cboe Global Markets from $277.00 to $288.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $330.27.

Insiders Place Their Bets

In related news, Director Janet Froetscher sold 937 shares of Cboe Global Markets stock in a transaction that occurred 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 transaction, the director directly owned 12,870 shares in the company, valued at approximately $3,590,086.50. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company’s stock.

Cboe Global Markets Price Performance

CBOE opened at $340.42 on Monday. The company has a market capitalization of $36.11 billion, a price-to-earnings ratio of 175.48 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. The firm has a 50-day moving average price of $291.19 and a 200-day moving average price of $294.64. Cboe Global Markets, Inc. has a twelve month low of $227.15 and a twelve month high of $371.18.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.07. The company had revenue of $731.60 million for the quarter, compared to analyst estimates of $716.61 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Equities analysts expect that Cboe Global Markets, Inc. will post 6.41 EPS for the current year.

Cboe Global Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Cboe Global Markets’s payout ratio is currently 98.97%.

Cboe Global Markets announced that its board has initiated a stock repurchase program on Thursday, October 22nd that authorizes the company to buy back $550.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.6% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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. 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.