Herndon Capital Management LLC reduced its position in shares of CBOE Holdings, Inc (NASDAQ:CBOE) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 247,788 shares of the financial services provider’s stock after selling 38,438 shares during the period. CBOE Holdings makes up approximately 2.9% of Herndon Capital Management LLC’s portfolio, making the stock its 8th largest position. Herndon Capital Management LLC owned 0.30% of CBOE Holdings worth $20,089,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CBOE. TrimTabs Asset Management LLC increased its stake in shares of CBOE Holdings by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the financial services provider’s stock worth $128,000 after buying an additional 744 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of CBOE Holdings during the fourth quarter worth approximately $130,000. Bessemer Group Inc. purchased a new stake in shares of CBOE Holdings during the fourth quarter worth approximately $205,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of CBOE Holdings during the fourth quarter worth approximately $224,000. Finally, Cigna Investments Inc. New purchased a new stake in shares of CBOE Holdings during the fourth quarter worth approximately $225,000. 74.33% of the stock is currently owned by institutional investors.
CBOE Holdings, Inc (NASDAQ:CBOE) traded up 0.75% on Friday, hitting $85.04. 2,979,120 shares of the company were exchanged. The firm has a 50 day moving average of $82.75 and a 200-day moving average of $77.02. The stock has a market cap of $9.53 billion, a PE ratio of 47.46 and a beta of 0.66. CBOE Holdings, Inc has a 52-week low of $61.58 and a 52-week high of $86.28.
CBOE Holdings (NASDAQ:CBOE) last issued its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $193.40 million during the quarter, compared to analyst estimates of $208.30 million. CBOE Holdings had a net margin of 28.74% and a return on equity of 70.50%. The business’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that CBOE Holdings, Inc will post $3.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. CBOE Holdings’s dividend payout ratio (DPR) is presently 44.05%.
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CBOE has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of CBOE Holdings from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Tuesday, April 11th. Bank of America Corp raised shares of CBOE Holdings from an “underperform” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, January 31st. Jefferies Group LLC reissued a “hold” rating and issued a $85.00 price objective on shares of CBOE Holdings in a research report on Monday, April 10th. Deutsche Bank AG increased their price objective on shares of CBOE Holdings from $76.00 to $79.00 and gave the company a “hold” rating in a research report on Thursday, April 6th. Finally, Royal Bank of Canada set a $90.00 price objective on shares of CBOE Holdings and gave the company an “outperform” rating in a research report on Friday, May 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. CBOE Holdings presently has an average rating of “Hold” and an average target price of $72.53.
In related news, Chairman Edward T. Tilly sold 5,000 shares of CBOE Holdings stock in a transaction on Monday, March 27th. The shares were sold at an average price of $78.61, for a total value of $393,050.00. Following the completion of the sale, the chairman now owns 85,611 shares in the company, valued at $6,729,880.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher Mitchell sold 470,000 shares of CBOE Holdings stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $78.26, for a total transaction of $36,782,200.00. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.
CBOE Holdings Company Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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