Connor Clark & Lunn Investment Management Ltd. Invests $41.16 Million in Cboe Global Markets, Inc. $CBOE

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cboe Global Markets, Inc. (BATS:CBOE) during the 2nd quarter, Holdings Channel reports. The fund acquired 169,634 shares of the company’s stock, valued at approximately $41,165,000.

A number of other large investors have also recently added to or reduced their stakes in CBOE. Pinnacle Holdings LLC acquired a new position in Cboe Global Markets during the second quarter worth about $52,000. Bank of Nova Scotia acquired a new stake in shares of Cboe Global Markets in the second quarter valued at approximately $2,930,000. Kendall Capital Management acquired a new stake in shares of Cboe Global Markets in the second quarter valued at approximately $2,148,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Cboe Global Markets during the 2nd quarter worth approximately $305,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Cboe Global Markets during the 2nd quarter worth approximately $8,607,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CBOE shares. TD Cowen increased their target price on Cboe Global Markets from $304.00 to $315.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Morgan Stanley reissued an “underweight” rating and issued a $258.00 price target on shares of Cboe Global Markets in a report on Friday, July 10th. Loop Capital set a $380.00 price objective on Cboe Global Markets in a research report on Monday, August 3rd. UBS Group increased their price objective on Cboe Global Markets from $305.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Zacks Research downgraded shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $315.30.

Cboe Global Markets Stock Performance

Shares of CBOE stock opened at $308.09 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a market cap of $32.68 billion, a PE ratio of 158.81 and a beta of 0.61. The company’s fifty day simple moving average is $274.86 and its 200-day simple moving average is $293.14. Cboe Global Markets, Inc. has a 52 week low of $227.15 and a 52 week high of $371.18.

Cboe Global Markets (BATS:CBOE) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.07. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The firm had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. During the same period in the prior year, the company earned $2.46 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cboe Global Markets, Inc. will post 6.41 EPS for the current year.

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.86 per share. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.72. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. Cboe Global Markets’s payout ratio is presently 98.97%.

Insider Buying and Selling at Cboe Global Markets

In other news, Director Janet P. Froetscher sold 937 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was 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 of the company’s stock, valued at $3,590,086.50. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Cboe Global Markets 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.