Moran Wealth Management LLC Trims Position in Cboe Global Markets, Inc. $CBOE

Key Points

• Moran Wealth Management LLC reduced its stake in Cboe Global Markets by 7.0%, now holding 27,183 shares valued at $6,339,000 as per recent SEC filings.
• Analysts have set various price targets for Cboe Global Markets, with Loop Capital and Oppenheimer suggesting targets of $264.00 and $265.00 respectively, while the average rating is a "Reduce" with a price target of $235.46.
• Cboe Global Markets recently increased its quarterly dividend to $0.72 per share, up from $0.63, representing a yield of 1.2%.

Moran Wealth Management LLC lessened its stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,183 shares of the company's stock after selling 2,055 shares during the period. Moran Wealth Management LLC's holdings in Cboe Global Markets were worth $6,339,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CBOE. Alliancebernstein L.P. increased its stake 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 worth $2,141,730,000 after buying an additional 1,779,048 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cboe Global Markets by 400.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,067,566 shares of the company's stock worth $241,580,000 after buying an additional 854,325 shares during the period. Nuveen LLC purchased a new position in Cboe Global Markets in the 1st quarter worth about $74,789,000. Perpetual Ltd purchased a new position in Cboe Global Markets in the 1st quarter worth about $66,981,000. Finally, Citigroup Inc. increased its stake in Cboe Global Markets by 510.8% in the 1st quarter. Citigroup Inc. now owns 340,185 shares of the company's stock worth $76,980,000 after buying an additional 284,489 shares during the period. Hedge funds and other institutional investors own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Loop Capital set a $264.00 target price on shares of Cboe Global Markets in a research report on Wednesday, October 8th. Oppenheimer set a $265.00 price target on shares of Cboe Global Markets and gave the company an "outperform" rating in a report on Monday, August 4th. UBS Group restated a "neutral" rating and issued a $255.00 price target (up previously from $245.00) on shares of Cboe Global Markets in a report on Monday, August 4th. Citigroup boosted their price target on shares of Cboe Global Markets from $230.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted 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 report on Monday, August 4th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $235.46.

Cboe Global Markets Stock Down 2.2%

Shares of Cboe Global Markets stock opened at $238.21 on Wednesday. The firm's 50 day moving average price is $241.03 and its 200-day moving average price is $231.75. 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, Inc. has a 52-week low of $187.30 and a 52-week high of $255.27. The company has a market cap of $24.91 billion, a P/E ratio of 32.99, a PEG ratio of 1.75 and a beta of 0.44.

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%. 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 posted $2.15 EPS. On average, sell-side analysts predict that Cboe Global Markets, Inc. will post 8.96 EPS for the current fiscal year.

Cboe Global Markets Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given 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 yield of 1.2%. This is a boost from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's payout ratio is presently 33.76%.

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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