Canada Pension Plan Investment Board Reduces Stock Position in Cboe Global Markets, Inc. $CBOE

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Cboe Global Markets by 57.1%, resulting in ownership of 30,229 shares worth approximately $6.8 million.
• Wall Street analysts have set varied target prices for Cboe Global Markets, with Citigroup raising their price target from $230 to $245 while maintaining a "neutral" rating.
• Cboe Global Markets recently announced a quarterly dividend increase from $0.63 to $0.72, representing an annualized yield of 1.2% and a dividend payout ratio of 33.76%.

Canada Pension Plan Investment Board trimmed its position in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,229 shares of the company's stock after selling 40,200 shares during the period. Canada Pension Plan Investment Board's holdings in Cboe Global Markets were worth $6,841,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in Cboe Global Markets in the 1st quarter worth about $265,000. Capital Investment Advisory Services LLC acquired a new position in shares of Cboe Global Markets during the 1st quarter worth approximately $277,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Cboe Global Markets by 31.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 29,561 shares of the company's stock valued at $6,689,000 after purchasing an additional 7,146 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Cboe Global Markets in the first quarter valued at approximately $1,541,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Cboe Global Markets in the first quarter valued at approximately $3,463,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Cboe Global Markets Stock Performance

NASDAQ:CBOE traded down $2.08 during mid-day trading on Friday, reaching $232.09. The stock had a trading volume of 666,401 shares, compared to its average volume of 880,957. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78. The firm has a market capitalization of $24.27 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a twelve month low of $187.30 and a twelve month high of $255.27. The business has a 50 day simple moving average of $240.65 and a 200 day simple moving average of $227.01.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.46 EPS 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%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. On average, analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CBOE. Oppenheimer set a $265.00 price target on Cboe Global Markets and gave the company an "outperform" rating in a research report on Monday, August 4th. Morgan Stanley set a $218.00 price target on Cboe Global Markets and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $254.00 price objective on shares of Cboe Global Markets in a research report on Monday, August 4th. UBS Group reissued a "neutral" rating and issued a $255.00 target price (up previously from $245.00) on shares of Cboe Global Markets in a report on Monday, August 4th. Finally, Piper Sandler raised their price objective on Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $231.38.

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.