Perpetual Ltd Reduces Stake in Cboe Global Markets, Inc. $CBOE

Key Points

• Perpetual Ltd reduced its stake in Cboe Global Markets by 15.9% during the second quarter, holding 249,003 shares valued at approximately $58.1 million.
• Analysts have issued mixed ratings on Cboe Global Markets, with price targets ranging from $231.38 to $265.00, indicating a cautious outlook on the stock.
• Cboe Global Markets recently increased its quarterly dividend from $0.63 to $0.72 per share, resulting in an annual yield of 1.2%.

Perpetual Ltd trimmed its stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,003 shares of the company's stock after selling 46,995 shares during the quarter. Perpetual Ltd owned 0.24% of Cboe Global Markets worth $58,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in Cboe Global Markets during the 2nd quarter worth $741,000. Wealth Enhancement Advisory Services LLC grew its stake in Cboe Global Markets by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,730 shares of the company's stock worth $1,326,000 after purchasing an additional 276 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Cboe Global Markets by 1.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 38,800 shares of the company's stock worth $9,049,000 after purchasing an additional 700 shares in the last quarter. Wedmont Private Capital grew its stake in Cboe Global Markets by 3.0% during the 2nd quarter. Wedmont Private Capital now owns 2,378 shares of the company's stock worth $552,000 after purchasing an additional 69 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in Cboe Global Markets by 41.6% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,695 shares of the company's stock worth $392,000 after purchasing an additional 498 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBOE has been the subject of several analyst reports. Morgan Stanley set a $218.00 target price on Cboe Global Markets and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price objective on Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Citigroup upped their price objective on Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays upped their price objective on 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. Finally, Piper Sandler upped their price objective on Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $231.38.

Cboe Global Markets Stock Performance

CBOE traded up $0.23 on Tuesday, hitting $236.85. 186,730 shares of the company traded hands, compared to its average volume of 870,983. The company has a 50 day moving average of $240.98 and a 200-day moving average of $228.97. The company has a quick ratio of 1.39, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $24.77 billion, a PE ratio of 32.80, a PEG ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a 12-month low of $187.30 and a 12-month high of $255.27.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.46 EPS 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%.The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Sell-side analysts anticipate 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 announced 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. This is a positive change from Cboe Global Markets's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.2%. Cboe Global Markets's dividend payout ratio (DPR) 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.