Covea Finance Lowers Stock Holdings in Cboe Global Markets, Inc. $CBOE

Key Points

• Covea Finance has reduced its stake in Cboe Global Markets, Inc. by 13.3%, owning 46,100 shares worth approximately $10.75 million after selling 7,100 shares in the second quarter.
• The company's recent earnings report indicated an EPS of $2.46, surpassing analysts' estimates, with revenue increasing by 14.3% year-over-year.
• Cboe Global Markets has increased its quarterly dividend from $0.63 to $0.72 per share, resulting in an annualized yield of 1.2%.

Covea Finance lowered its stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,100 shares of the company's stock after selling 7,100 shares during the quarter. Covea Finance's holdings in Cboe Global Markets were worth $10,751,000 at the end of the most recent quarter.

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

Cboe Global Markets Stock Up 1.5%

Shares of NASDAQ CBOE opened at $236.62 on Tuesday. Cboe Global Markets, Inc. has a 52-week low of $187.30 and a 52-week high of $255.27. The firm has a fifty day moving average of $240.98 and a 200-day moving average of $228.97. The stock has a market capitalization of $24.75 billion, a PE ratio of 32.77, 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 announced its quarterly earnings data on Friday, August 1st. The company reported $2.46 earnings per share (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 firm posted $2.15 earnings per share. Cboe Global Markets's quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts anticipate 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. This is a boost from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's dividend payout ratio is presently 33.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price target on shares of Cboe Global Markets from $250.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Oppenheimer set a $265.00 price target on shares of Cboe Global Markets and gave the company an "outperform" rating in a research report on Monday, August 4th. Citigroup lifted their price target 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. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $254.00 price target on shares of Cboe Global Markets in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $231.38.

Cboe Global Markets Company 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.

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