Cboe Global Markets, Inc. $CBOE Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its stake in Cboe Global Markets by 19.9%, selling 108,505 shares, and now holds 437,423 shares valued at approximately $98.98 million.
• Cboe Global Markets has recently increased its quarterly dividend to $0.72 per share, up from $0.63, representing an annualized payout of $2.88 and a 1.2% dividend yield.
• Despite mixed ratings from analysts, with a consensus price target of $231.38, Cboe Global Markets reported a 14.3% increase in quarterly revenue year-over-year, exceeding EPS estimates by $0.03.

Panagora Asset Management Inc. trimmed its position in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 19.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 437,423 shares of the company's stock after selling 108,505 shares during the period. Panagora Asset Management Inc. owned about 0.42% of Cboe Global Markets worth $98,984,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management increased its stake in shares of Cboe Global Markets by 0.9% during the first quarter. Ritholtz Wealth Management now owns 5,592 shares of the company's stock worth $1,265,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Cboe Global Markets by 1.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,864 shares of the company's stock worth $874,000 after buying an additional 48 shares during the period. Pekin Hardy Strauss Inc. increased its stake in shares of Cboe Global Markets by 0.5% during the first quarter. Pekin Hardy Strauss Inc. now owns 10,765 shares of the company's stock worth $2,436,000 after buying an additional 49 shares during the period. Burney Co. increased its stake in shares of Cboe Global Markets by 0.7% during the first quarter. Burney Co. now owns 6,942 shares of the company's stock worth $1,571,000 after buying an additional 51 shares during the period. Finally, Argent Trust Co increased its stake in shares of Cboe Global Markets by 1.3% during the first quarter. Argent Trust Co now owns 4,927 shares of the company's stock worth $1,115,000 after buying an additional 61 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBOE has been the topic of a number of recent research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $254.00 target price on shares of Cboe Global Markets in a research note on Monday, August 4th. Cowen restated a "hold" rating on shares of Cboe Global Markets in a research note on Monday, May 5th. Piper Sandler increased 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 note on Monday, August 4th. Barclays increased their price target on shares of 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. Finally, Oppenheimer set a $265.00 price target on shares of Cboe Global Markets and gave the company an "outperform" 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 given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $231.38.

Cboe Global Markets Stock Performance

Shares of CBOE stock traded down $4.07 during trading hours on Tuesday, hitting $231.88. The stock had a trading volume of 1,138,603 shares, compared to its average volume of 882,863. The firm has a market capitalization of $24.25 billion, a PE ratio of 32.12, a PEG ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a twelve month low of $187.30 and a twelve month high of $255.27. The stock's 50 day moving average is $240.28 and its 200 day moving average is $226.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%.Cboe Global Markets's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. As a group, research analysts forecast that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

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

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.