Northern Trust Corp Acquires 76,346 Shares of Cboe Global Markets, Inc. $CBOE

Key Points

• Northern Trust Corp increased its stake in Cboe Global Markets by 6.1% during the first quarter, acquiring an additional 76,346 shares to bring its total holdings to approximately 1.32 million shares valued at $298.5 million.
• Multiple analysts raised their price targets for Cboe Global Markets, with recommendations ranging from $227.00 to $265.00 and a consensus rating of "Reduce" based on recent reports.
• Cboe Global Markets announced a quarterly dividend increase from $0.63 to $0.72, with an ex-dividend date set for August 29, representing an annualized yield of 1.1%.

Northern Trust Corp raised its holdings in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,319,236 shares of the company's stock after acquiring an additional 76,346 shares during the quarter. Northern Trust Corp owned about 1.26% of Cboe Global Markets worth $298,530,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in Cboe Global Markets in the first quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Cboe Global Markets in the first quarter worth $27,000. Greenline Partners LLC acquired a new stake in shares of Cboe Global Markets in the fourth quarter worth $29,000. Hughes Financial Services LLC acquired a new stake in shares of Cboe Global Markets in the first quarter worth $29,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Cboe Global Markets by 4,633.3% in the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock worth $30,000 after buying an additional 139 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBOE. Keefe, Bruyette & Woods boosted their price objective on shares of Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Royal Bank Of Canada restated a "sector perform" rating and issued a $254.00 price objective on shares of Cboe Global Markets in a research note on Monday, August 4th. Barclays boosted their target price on shares of Cboe Global Markets from $243.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. UBS Group reissued 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. Finally, Piper Sandler boosted their price objective on shares of 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 given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Cboe Global Markets currently has an average rating of "Reduce" and an average price target of $231.38.

Cboe Global Markets Stock Performance

Shares of NASDAQ:CBOE traded down $2.82 on Friday, hitting $246.43. 706,157 shares of the company were exchanged, compared to its average volume of 874,743. The company's 50 day moving average price is $238.77 and its two-hundred day moving average price is $224.98. Cboe Global Markets, Inc. has a one year low of $187.30 and a one year high of $255.27. 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 $25.77 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 1.75 and a beta of 0.46.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last announced its quarterly earnings results 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%. Cboe Global Markets's revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $2.15 EPS. Research analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share 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. Shareholders of record on Friday, August 29th will be issued a $0.72 dividend. This is a boost 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 yield of 1.2%. Cboe Global Markets's payout ratio is presently 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.