Gulf International Bank UK Ltd Cuts Stock Position in Cboe Global Markets, Inc. $CBOE

Key Points

• Gulf International Bank UK Ltd reduced its stake in Cboe Global Markets by 32.7%, selling 2,696 shares in the first quarter and decreasing its holdings to 5,561 shares valued at approximately $1.26 million.
• Cboe Global Markets recently declared a quarterly dividend of $0.72, an increase from its previous dividend of $0.63, with a dividend yield of 1.2%.
• Despite a sell-off by some investors, institutional ownership remains strong, with 82.67% of the company's stock held by institutional investors and hedge funds.

Gulf International Bank UK Ltd lessened its stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,561 shares of the company's stock after selling 2,696 shares during the period. Gulf International Bank UK Ltd's holdings in Cboe Global Markets were worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CBOE. Clearstead Trust LLC purchased a new position in Cboe Global Markets in the 1st quarter worth about $26,000. NBC Securities Inc. purchased a new position in Cboe Global Markets during the 1st quarter valued at about $27,000. Greenline Partners LLC purchased a new position in Cboe Global Markets during the 4th quarter valued at about $29,000. Hughes Financial Services LLC purchased a new position in Cboe Global Markets during the 1st quarter valued at about $29,000. Finally, Cornerstone Planning Group LLC increased its position in Cboe Global Markets by 4,633.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 82.67% of the company's stock.

Analysts Set New Price Targets

CBOE has been the topic of a number of research reports. Barclays raised their target price on shares of Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Citigroup raised their target price on shares of Cboe Global Markets from $230.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. 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. Royal Bank Of Canada restated a "sector perform" rating and issued a $254.00 price target on shares of Cboe Global Markets in a report on Monday, August 4th. Finally, Morgan Stanley set a $218.00 price target on shares of Cboe Global Markets and gave the company an "underweight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Cboe Global Markets presently has a consensus rating of "Reduce" and an average target price of $231.38.

Cboe Global Markets Stock Performance

CBOE stock traded up $2.92 during trading on Wednesday, reaching $249.05. The company had a trading volume of 644,487 shares, compared to its average volume of 871,673. The firm has a 50-day simple moving average of $237.31 and a 200-day simple moving average of $224.14. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78. Cboe Global Markets, Inc. has a twelve month low of $187.30 and a twelve month high of $255.27.

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 the consensus estimate 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 quarter in the previous year, the business posted $2.15 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current year.

Cboe Global Markets Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.72 per share. This is a positive change from Cboe Global Markets's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. Cboe Global Markets's payout ratio is presently 33.76%.

Insider Buying and Selling at Cboe Global Markets

In other news, EVP Catherine R. Clay sold 3,598 shares of Cboe Global Markets stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $226.58, for a total transaction of $815,234.84. Following the completion of the transaction, the executive vice president directly owned 2,183 shares of the company's stock, valued at $494,624.14. The trade was a 62.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

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.