Kentucky Retirement Systems Reduces Stock Position in Cboe Global Markets, Inc. (BATS:CBOE)

Kentucky Retirement Systems trimmed its holdings in Cboe Global Markets, Inc. (BATS:CBOE) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,289 shares of the company’s stock after selling 635 shares during the period. Kentucky Retirement Systems’ holdings in Cboe Global Markets were worth $1,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in Cboe Global Markets in the second quarter valued at $30,000. Friedenthal Financial acquired a new stake in shares of Cboe Global Markets in the 3rd quarter valued at about $49,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cboe Global Markets during the second quarter worth about $51,000. GPS Wealth Strategies Group LLC grew its stake in Cboe Global Markets by 59.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 331 shares of the company’s stock worth $56,000 after purchasing an additional 123 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Cboe Global Markets in the third quarter valued at about $74,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Christopher A. Isaacson sold 6,000 shares of Cboe Global Markets stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. The trade was a 13.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 8,844 shares in the company, valued at approximately $1,886,690.52. This trade represents a 15.50 % 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. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on CBOE. Keefe, Bruyette & Woods increased their target price on Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Barclays reduced their price objective on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $220.00 target price on shares of Cboe Global Markets in a research note on Monday, November 4th. Piper Sandler raised their price target on shares of Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer boosted their price objective on shares of Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cboe Global Markets has an average rating of “Hold” and a consensus target price of $209.42.

Cboe Global Markets Stock Performance

Shares of CBOE stock opened at $205.70 on Tuesday. The business has a 50 day simple moving average of $207.93 and a 200 day simple moving average of $193.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 106.03 and a beta of 0.61. Cboe Global Markets, Inc. has a 12-month low of $103.82 and a 12-month high of $139.00.

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

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

Cboe Global Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.52 annualized dividend and a yield of 1.23%. Cboe Global Markets’s payout ratio is 98.97%.

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.