CIBC Asset Management Inc Cuts Stake in Cboe Global Markets, Inc. (BATS:CBOE)

CIBC Asset Management Inc cut its stake in Cboe Global Markets, Inc. (BATS:CBOE) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,673 shares of the company’s stock after selling 107 shares during the quarter. CIBC Asset Management Inc’s holdings in Cboe Global Markets were worth $7,103,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Americana Partners LLC grew its stake in shares of Cboe Global Markets by 2.2% during the third quarter. Americana Partners LLC now owns 2,498 shares of the company’s stock valued at $512,000 after acquiring an additional 54 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Cboe Global Markets by 0.3% during the second 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 in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Cboe Global Markets by 9.7% during the second quarter. First Horizon Advisors Inc. now owns 713 shares of the company’s stock valued at $121,000 after acquiring an additional 63 shares in the last quarter. Kendall Capital Management grew its stake in shares of Cboe Global Markets by 0.9% during the second quarter. Kendall Capital Management now owns 9,410 shares of the company’s stock valued at $1,600,000 after acquiring an additional 80 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Cboe Global Markets by 11.6% during the third quarter. Farther Finance Advisors LLC now owns 777 shares of the company’s stock valued at $159,000 after acquiring an additional 81 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Cboe Global Markets Price Performance

Shares of BATS:CBOE opened at $200.71 on Monday. Cboe Global Markets, Inc. has a 12 month low of $103.82 and a 12 month high of $139.00. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 103.46 and a beta of 0.61. The stock’s 50 day moving average price is $208.04 and its 200 day moving average price is $193.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.03. The firm had revenue of $532.00 million for the quarter, compared to analyst estimates of $530.46 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. Equities research analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets announced that its board has initiated a stock repurchase plan on Friday, August 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Cboe Global Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s payout ratio is 98.97%.

Insiders Place Their Bets

In other news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 8,844 shares in the company, valued at $1,886,690.52. The trade was a 15.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the transaction, the chief operating officer now owns 39,855 shares in the company, valued at approximately $8,165,890.95. This represents a 13.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,696 shares of company stock worth $1,591,160. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

CBOE has been the subject of several recent analyst reports. Oppenheimer raised their target price on Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Piper Sandler lifted their price target on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays decreased their price target on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. TD Cowen started coverage on Cboe Global Markets in a research note on Thursday, September 26th. They issued a “hold” rating and a $205.00 price target for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $220.00 price target on shares of Cboe Global Markets in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cboe Global Markets currently has an average rating of “Hold” and an average target price of $209.42.

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.