Clark Capital Management Group Inc. Decreases Holdings in Cboe Global Markets, Inc. $CBOE

Key Points

• Clark Capital Management Group Inc. significantly reduced its stake in Cboe Global Markets, Inc. by 98.0% in the first quarter, leaving them with only 4,296 shares valued at approximately $972,000.
• Cboe Global Markets recently increased its quarterly dividend from $0.63 to $0.72, representing an annualized amount of $2.88 with a yield of 1.2%.
• The company reported a 14.3% increase in quarterly revenue year-over-year and earnings per share of $2.46, exceeding analysts' expectations.

Clark Capital Management Group Inc. lessened its stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 98.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,296 shares of the company's stock after selling 207,644 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Cboe Global Markets were worth $972,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in Cboe Global Markets by 23.1% in the 1st quarter. Alliancebernstein L.P. now owns 9,464,537 shares of the company's stock valued at $2,141,730,000 after buying an additional 1,779,048 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Cboe Global Markets by 1.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,069,233 shares of the company's stock valued at $920,827,000 after acquiring an additional 54,054 shares during the period. Invesco Ltd. increased its holdings in shares of Cboe Global Markets by 15.6% during the first quarter. Invesco Ltd. now owns 1,357,792 shares of the company's stock valued at $307,255,000 after acquiring an additional 182,725 shares in the last quarter. Northern Trust Corp raised its position in shares of Cboe Global Markets by 6.1% during the first quarter. Northern Trust Corp now owns 1,319,236 shares of the company's stock worth $298,530,000 after purchasing an additional 76,346 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Cboe Global Markets by 29,094.5% during the first quarter. GAMMA Investing LLC now owns 1,216,535 shares of the company's stock worth $275,290,000 after purchasing an additional 1,212,368 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBOE has been the subject of several research reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $254.00 price target on shares of Cboe Global Markets in a research report on Monday, August 4th. UBS Group reaffirmed a "neutral" rating and issued a $255.00 price objective (up from $245.00) on shares of Cboe Global Markets in a research note on Monday, August 4th. Piper Sandler boosted their target price on shares of Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Citigroup upped their target price on shares of Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Barclays lifted their price target on Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $231.38.

Cboe Global Markets Stock Up 0.8%

Shares of CBOE traded up $1.86 during trading hours on Thursday, reaching $236.37. 588,558 shares of the stock traded hands, compared to its average volume of 875,865. Cboe Global Markets, Inc. has a 52 week low of $187.30 and a 52 week high of $255.27. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.75 and a beta of 0.46. The stock has a fifty day simple moving average of $240.85 and a 200 day simple moving average of $227.57. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 business posted $2.15 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Cboe Global Markets, Inc. will post 8.96 EPS for the current year.

Cboe Global Markets Increases Dividend

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

Cboe Global Markets Profile

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.