PNC Financial Services Group Inc. decreased its stake in shares of Cboe Global Markets Inc (NASDAQ:CBOE) by 3.7% in the first quarter, Holdings Channel reports. The institutional investor owned 14,603 shares of the financial services provider’s stock after selling 564 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cboe Global Markets were worth $1,666,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. raised its stake in Cboe Global Markets by 10.8% during the fourth quarter. BlackRock Inc. now owns 8,088,983 shares of the financial services provider’s stock valued at $1,007,804,000 after buying an additional 786,423 shares during the last quarter. Renaissance Technologies LLC raised its stake in Cboe Global Markets by 3.0% during the fourth quarter. Renaissance Technologies LLC now owns 4,520,000 shares of the financial services provider’s stock valued at $563,147,000 after buying an additional 130,300 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cboe Global Markets by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,597,647 shares of the financial services provider’s stock valued at $199,050,000 after buying an additional 87,229 shares during the last quarter. American Century Companies Inc. raised its stake in Cboe Global Markets by 19.2% during the first quarter. American Century Companies Inc. now owns 1,496,855 shares of the financial services provider’s stock valued at $170,791,000 after buying an additional 241,485 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Cboe Global Markets by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 1,359,149 shares of the financial services provider’s stock valued at $169,034,000 after buying an additional 118,812 shares during the last quarter. Institutional investors and hedge funds own 82.52% of the company’s stock.
Shares of CBOE opened at $102.82 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.33 and a quick ratio of 1.33. Cboe Global Markets Inc has a one year low of $88.18 and a one year high of $138.54. The firm has a market capitalization of $11.57 billion, a P/E ratio of 25.64, a PEG ratio of 1.30 and a beta of 0.59.
Cboe Global Markets (NASDAQ:CBOE) last issued its quarterly earnings data on Friday, May 4th. The financial services provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.11. Cboe Global Markets had a return on equity of 15.06% and a net margin of 18.82%. The company had revenue of $328.50 million during the quarter, compared to analyst estimates of $313.78 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. Cboe Global Markets’s revenue was up 69.9% compared to the same quarter last year. equities research analysts predict that Cboe Global Markets Inc will post 4.66 EPS for the current fiscal year.
Cboe Global Markets announced that its Board of Directors has approved a stock buyback program on Tuesday, February 27th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 31st. Cboe Global Markets’s payout ratio is currently 31.58%.
In other news, COO Christopher R. Concannon acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was bought at an average price of $99.44 per share, with a total value of $994,400.00. Following the completion of the acquisition, the chief operating officer now directly owns 152,526 shares of the company’s stock, valued at approximately $15,167,185.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian N. Schell sold 5,000 shares of Cboe Global Markets stock in a transaction on Friday, May 18th. The stock was sold at an average price of $108.30, for a total value of $541,500.00. Following the completion of the sale, the vice president now directly owns 50,541 shares of the company’s stock, valued at approximately $5,473,590.30. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
A number of research firms have commented on CBOE. Zacks Investment Research lowered Cboe Global Markets from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. JPMorgan Chase & Co. lowered Cboe Global Markets from a “neutral” rating to an “underweight” rating and set a $106.00 target price for the company. in a report on Wednesday, March 21st. BidaskClub raised Cboe Global Markets from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Deutsche Bank lifted their target price on Cboe Global Markets from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, March 6th. Finally, UBS Group reissued a “neutral” rating and issued a $127.00 target price (up previously from $120.00) on shares of Cboe Global Markets in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Cboe Global Markets has a consensus rating of “Hold” and an average target price of $118.17.
Cboe Global Markets Company Profile
Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange in the United States. The company operates in five segments: Options, U.S. Equities, Futures, European Equities, and Global FX. The Options segment trades in listed market indexes. The U.S. Equities segment trades in listed cash equities; and provides exchange-traded products (ETP) transaction and ETP listing services.
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