Pitcairn Co. Cuts Stock Holdings in Cboe Global Markets, Inc. (BATS:CBOE)

Pitcairn Co. lowered its position in Cboe Global Markets, Inc. (BATS:CBOE) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,780 shares of the company’s stock after selling 1,555 shares during the period. Pitcairn Co.’s holdings in Cboe Global Markets were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CBOE. ORG Partners LLC acquired a new stake in shares of Cboe Global Markets during the 2nd quarter valued at approximately $30,000. Friedenthal Financial acquired a new position in Cboe Global Markets during the third quarter worth $49,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cboe Global Markets during the second quarter worth $51,000. GPS Wealth Strategies Group LLC grew its holdings 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 valued at $56,000 after purchasing an additional 123 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of Cboe Global Markets in the third quarter valued at $74,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $168.00 to $195.00 in a research note on Monday, August 5th. Piper Sandler increased their price target on shares of Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Oppenheimer increased their target price on Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $220.00 price target on shares of Cboe Global Markets in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $209.42.

Insider Buying and Selling

In related news, CFO Jill Griebenow sold 1,622 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total value of $346,021.26. Following the completion of the sale, the chief financial officer now directly owns 8,844 shares in the company, valued at approximately $1,886,690.52. This represents a 15.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher A. Isaacson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total value of $1,229,340.00. Following the completion of the transaction, the chief operating officer now directly owns 39,855 shares in the company, valued at $8,165,890.95. This trade represents a 13.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Cboe Global Markets Stock Performance

BATS:CBOE opened at $213.26 on Monday. The company has a market cap of $22.62 billion, a P/E ratio of 109.93 and a beta of 0.61. The firm’s 50 day moving average is $207.83 and its two-hundred day moving average is $194.05. Cboe Global Markets, Inc. has a fifty-two week low of $103.82 and a fifty-two week high of $139.00. 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 (BATS:CBOE) last issued its earnings results on Friday, November 1st. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate 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 business 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 posted $2.06 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that Cboe Global Markets, Inc. will post 6.41 EPS for the current year.

Cboe Global Markets Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s payout ratio is currently 98.97%.

Cboe Global Markets announced that its Board of Directors has initiated a stock buyback plan on Friday, August 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.