Cboe Global Markets (BATS:CBOE) Price Target Raised to $360.00

Cboe Global Markets (BATS:CBOE) had its target price raised by Royal Bank Of Canada from $303.00 to $360.00 in a research report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also weighed in on CBOE. The Goldman Sachs Group raised shares of Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Zacks Research downgraded Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Cboe Global Markets in a report on Monday, August 3rd. Piper Sandler reduced their price objective on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Barclays decreased their price objective on Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $342.82.

Cboe Global Markets Trading Up 2.0%

CBOE stock traded up $6.80 during midday trading on Friday, reaching $342.33. The company’s stock had a trading volume of 81,875 shares, compared to its average volume of 1,133,071. The business’s 50-day simple moving average is $294.61 and its 200-day simple moving average is $291.85. 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 has a 52 week low of $227.15 and a 52 week high of $371.18. The stock has a market cap of $36.31 billion, a PE ratio of 177.49 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last announced its quarterly earnings results on Friday, October 30th. The company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.20. The company had revenue of $712.20 million during the quarter, compared to analysts’ expectations of $705.22 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. Cboe Global Markets’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 EPS. As a group, sell-side analysts expect that Cboe Global Markets will post 6.41 EPS for the current year.

Cboe Global Markets declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 22nd that permits the company to repurchase $550 million in shares. This repurchase authorization permits the company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Cboe Global Markets Announces Dividend

The business also recently declared 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 of this dividend is Monday, November 30th. Cboe Global Markets’s payout ratio is 98.97%.

Insider Activity

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total transaction of $261,376.15. Following the completion of the transaction, the director owned 12,870 shares of the company’s stock, valued at approximately $3,590,086.50. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its stake in shares of Cboe Global Markets by 5.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,808 shares of the company’s stock valued at $2,658,000 after purchasing an additional 378 shares during the period. Covestor Ltd grew its stake in Cboe Global Markets by 27.6% during the third quarter. Covestor Ltd now owns 236 shares of the company’s stock worth $65,000 after purchasing an additional 51 shares during the period. Rakuten Investment Management Inc. grew its stake in Cboe Global Markets by 9.6% during the third quarter. Rakuten Investment Management Inc. now owns 18,759 shares of the company’s stock worth $4,910,000 after purchasing an additional 1,636 shares during the period. Traynor Capital Management Inc. acquired a new stake in Cboe Global Markets during the third quarter worth approximately $217,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Cboe Global Markets in the third quarter worth approximately $7,744,000. 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. 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.