Farmers Trust Co. Sells 716 Shares of Cboe Global Markets, Inc. (BATS:CBOE)

Farmers Trust Co. trimmed its stake in shares of Cboe Global Markets, Inc. (BATS:CBOE) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,834 shares of the company’s stock after selling 716 shares during the quarter. Cboe Global Markets accounts for 1.2% of Farmers Trust Co.’s portfolio, making the stock its 25th largest holding. Farmers Trust Co.’s holdings in Cboe Global Markets were worth $6,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CBOE. FinTrust Capital Advisors LLC raised 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 valued at $25,000 after acquiring an additional 85 shares during the last quarter. ORG Partners LLC acquired a new position in Cboe Global Markets in the second quarter worth $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cboe Global Markets during the first quarter worth $42,000. Riverview Trust Co acquired a new stake in shares of Cboe Global Markets in the first quarter valued at $44,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cboe Global Markets in the second quarter valued at $51,000. Institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Price Performance

BATS CBOE opened at $210.37 on Friday. The firm’s 50 day moving average is $204.40 and its 200-day moving average is $186.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $22.31 billion, a PE ratio of 108.44 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 posted its quarterly earnings data on Friday, August 2nd. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $513.80 million during the quarter, compared to the consensus estimate of $514.51 million. During the same period in the prior year, the business posted $1.78 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.55. This represents a $2.52 annualized dividend and a dividend yield of 1.20%. Cboe Global Markets’s payout ratio is currently 98.97%.

Cboe Global Markets declared that its board has initiated a stock buyback plan on Friday, August 16th that allows the company to buyback $500.00 million in 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 a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CBOE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cboe Global Markets from $186.00 to $205.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price target on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up previously from $203.00) on shares of Cboe Global Markets in a research report on Monday, August 5th. Oppenheimer increased their price objective on Cboe Global Markets from $199.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and upped their price target for the company from $168.00 to $195.00 in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $201.62.

Insider Activity

In related news, EVP Dave Howson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the transaction, the executive vice president now directly owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cboe Global Markets news, EVP Dave Howson sold 2,500 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $186.67, for a total transaction of $466,675.00. Following the transaction, the executive vice president now owns 15,073 shares in the company, valued at approximately $2,813,676.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now directly owns 8,844 shares in the company, valued at $1,886,690.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,261 shares of company stock valued at $3,604,822. 0.51% of the stock is owned by company insiders.

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.