Cboe Global Markets (BATS:CBOE) Receives New Coverage from Analysts at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Cboe Global Markets (BATS:CBOE) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a sector perform rating and a $220.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer raised their price target on Cboe Global Markets from $199.00 to $209.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Piper Sandler reissued an overweight rating and set a $210.00 price target (up from $203.00) on shares of Cboe Global Markets in a report on Monday, August 5th. JPMorgan Chase & Co. raised Cboe Global Markets from an underweight rating to a neutral rating and raised their target price for the company from $168.00 to $195.00 in a report on Monday, August 5th. Barclays boosted their price target on Cboe Global Markets from $194.00 to $218.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cboe Global Markets from $186.00 to $205.00 and gave the stock a hold rating in a research report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $201.62.

Cboe Global Markets Stock Performance

BATS:CBOE opened at $203.99 on Friday. The company’s 50-day moving average price is $203.33 and its 200-day moving average price is $186.54. The company has a market cap of $21.64 billion, a P/E ratio of 105.15 and a beta of 0.61. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. Cboe Global Markets has a twelve month low of $103.82 and a twelve month high of $139.00.

Cboe Global Markets (BATS:CBOE) last announced its earnings results on Friday, August 2nd. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $514.51 million. During the same quarter last year, the firm posted $1.78 earnings per share. Cboe Global Markets’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

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

Cboe Global Markets declared that its board has approved a stock repurchase plan on Friday, August 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Cboe Global Markets

In other Cboe Global Markets news, EVP Dave Howson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the completion of the sale, the executive vice president now owns 15,073 shares in the company, valued at approximately $2,813,676.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cboe Global Markets news, EVP Dave Howson sold 2,500 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $186.67, for a total transaction of $466,675.00. Following the completion of the transaction, the executive vice president now directly owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,261 shares of company stock valued at $3,604,822. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cboe Global Markets

Institutional investors and hedge funds have recently bought and sold shares of the business. Tandem Investment Advisors Inc. boosted its position in shares of Cboe Global Markets by 4.4% during the second quarter. Tandem Investment Advisors Inc. now owns 835,216 shares of the company’s stock worth $142,037,000 after buying an additional 35,336 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Cboe Global Markets by 66.5% during the second quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock valued at $104,934,000 after acquiring an additional 246,442 shares during the period. Dimensional Fund Advisors LP lifted its position in Cboe Global Markets by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 566,657 shares of the company’s stock worth $96,367,000 after purchasing an additional 55,876 shares during the period. Marshall Wace LLP raised its stake in shares of Cboe Global Markets by 306.6% in the 2nd quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock worth $90,785,000 after buying an additional 402,547 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Cboe Global Markets by 19.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 526,423 shares of the company’s stock worth $93,998,000 after acquiring an additional 85,433 shares during the period. 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.