Adage Capital Partners GP L.L.C. Has $18.44 Million Stock Position in Cboe Global Markets, Inc. $CBOE

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Cboe Global Markets by 7.2%, now holding 81,500 shares valued at approximately $18.44 million after selling 6,300 shares in the first quarter.
• Cboe Global Markets recently announced an increase in its quarterly dividend from $0.63 to $0.72, which will be paid on September 15th to shareholders recorded by August 29th.
• Analysts have mixed ratings for Cboe, with a consensus rating of "Reduce" and a target price of $231.38, reflecting varying outlooks from different financial institutions.

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 81,500 shares of the company's stock after selling 6,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Cboe Global Markets worth $18,443,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new position in shares of Cboe Global Markets during the 1st quarter worth about $26,000. NBC Securities Inc. bought a new position in Cboe Global Markets during the 1st quarter worth approximately $27,000. Greenline Partners LLC bought a new position in Cboe Global Markets during the 4th quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new position in Cboe Global Markets during the first quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC increased its stake in Cboe Global Markets by 4,633.3% in the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

Analyst Ratings Changes

CBOE has been the subject of several research analyst reports. Barclays boosted their price target on shares of Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Morgan Stanley set a $218.00 target price on Cboe Global Markets and gave the company an "underweight" rating in a research note on Tuesday, July 15th. UBS Group restated a "neutral" rating and issued a $255.00 price target (up from $245.00) on shares of Cboe Global Markets in a report on Monday, August 4th. Piper Sandler lifted their price objective on Cboe Global Markets from $250.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $231.38.

Cboe Global Markets Stock Up 0.8%

Shares of NASDAQ:CBOE traded up $1.86 during mid-day trading on Thursday, reaching $236.37. 588,558 shares of the stock were exchanged, compared to its average volume of 875,865. The stock's 50 day simple moving average is $240.85 and its 200-day simple moving average is $227.57. Cboe Global Markets, Inc. has a one year low of $187.30 and a one year high of $255.27. The company has a market cap of $24.72 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.75 and a beta of 0.46. The company has a quick ratio of 1.39, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.03. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. During the same period in the prior year, the company earned $2.15 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Cboe Global Markets, Inc. will post 8.96 EPS for the current year.

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's dividend payout ratio (DPR) is currently 33.76%.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.