Empirical Finance LLC Reduces Position in Cboe Global Markets, Inc. (BATS:CBOE)

Empirical Finance LLC trimmed its holdings in Cboe Global Markets, Inc. (BATS:CBOE) by 6.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,575 shares of the company’s stock after selling 262 shares during the quarter. Empirical Finance LLC’s holdings in Cboe Global Markets were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CBOE. FinTrust Capital Advisors LLC grew its stake in shares of Cboe Global Markets by 170.0% in the first quarter. FinTrust Capital Advisors LLC now owns 135 shares of the company’s stock worth $25,000 after acquiring an additional 85 shares during the period. Optiver Holding B.V. purchased a new position in shares of Cboe Global Markets in the 4th quarter worth $29,000. ORG Partners LLC bought a new stake in shares of Cboe Global Markets during the 2nd quarter valued at about $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cboe Global Markets during the 1st quarter valued at about $42,000. Finally, Riverview Trust Co purchased a new stake in shares of Cboe Global Markets during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Stock Down 0.7 %

BATS CBOE opened at $205.69 on Friday. Cboe Global Markets, Inc. has a 12 month low of $103.82 and a 12 month high of $139.00. 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 stock has a market cap of $21.82 billion, a PE ratio of 106.03 and a beta of 0.61. The stock’s 50 day moving average is $188.25 and its 200 day moving average is $183.62.

Cboe Global Markets (BATS:CBOE) last released its earnings results on Friday, August 2nd. The company reported $2.15 EPS 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 firm had revenue of $513.80 million for the quarter, compared to the consensus estimate of $514.51 million. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Research analysts predict that Cboe Global Markets, Inc. will post 6.41 EPS for the current fiscal year.

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

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Cboe Global Markets’s previous quarterly dividend of $0.55. Cboe Global Markets’s dividend payout ratio is 98.97%.

Insider Activity

In related news, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $175.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief operating officer now directly owns 51,855 shares of the company’s stock, valued at $9,074,625. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Dave Howson sold 5,073 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $192.16, for a total value of $974,827.68. Following the completion of the transaction, the executive vice president now owns 7,573 shares of the company’s stock, valued at approximately $1,455,227.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $175.00, for a total value of $1,050,000.00. Following the sale, the chief operating officer now directly owns 51,855 shares in the company, valued at $9,074,625. The disclosure for this sale can be found here. Insiders sold a total of 16,639 shares of company stock worth $3,079,461 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

CBOE has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $168.00 to $195.00 in a research report on Monday, August 5th. Barclays upped their price objective 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. Keefe, Bruyette & Woods raised 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. Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up previously from $203.00) on shares of Cboe Global Markets in a report on Monday, August 5th. Finally, Oppenheimer raised their price objective 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $199.64.

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.