Prudential PLC Sells 18,227 Shares of Cboe Global Markets, Inc. (NASDAQ:CBOE)

Key Points

• Prudential PLC reduced its stake in Cboe Global Markets by 30%, selling 18,227 shares, leaving them with 42,610 shares valued at approximately $9.6 million.
• Several institutional investors have recently increased their positions in Cboe Global Markets, contributing to 82.67% of the stock being held by hedge funds and other institutions.
• Cboe Global Markets reported earnings of $2.46 per share for the last quarter, exceeding estimates by $0.03, while revenue increased by 14.3% year-over-year.

Prudential PLC lowered its holdings in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,610 shares of the company's stock after selling 18,227 shares during the period. Prudential PLC's holdings in Cboe Global Markets were worth $9,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CBOE. Clearstead Trust LLC purchased a new stake in shares of Cboe Global Markets in the 1st quarter valued at about $26,000. NBC Securities Inc. purchased a new stake in shares of Cboe Global Markets in the 1st quarter valued at about $27,000. Greenline Partners LLC purchased a new stake in shares of Cboe Global Markets in the 4th quarter valued at about $29,000. Hughes Financial Services LLC purchased a new stake in shares of Cboe Global Markets in the 1st quarter valued at about $29,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Cboe Global Markets by 4,633.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

Analyst Upgrades and Downgrades

CBOE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Barclays raised their price objective on Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Morgan Stanley set a $218.00 price objective on Cboe Global Markets and gave the company an "underweight" rating in a report on Tuesday, July 15th. Cowen reissued a "hold" rating on shares of Cboe Global Markets in a report on Monday, May 5th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $254.00 price objective on shares of Cboe Global Markets in a report on Monday, August 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cboe Global Markets has an average rating of "Hold" and an average target price of $231.38.

Insider Transactions at Cboe Global Markets

In related news, EVP Catherine R. Clay sold 3,598 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $226.58, for a total transaction of $815,234.84. Following the transaction, the executive vice president directly owned 2,183 shares in the company, valued at $494,624.14. This trade represents a 62.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Cboe Global Markets Trading Up 1.6%

CBOE traded up $3.92 on Friday, hitting $247.63. 740,424 shares of the company were exchanged, compared to its average volume of 874,303. The firm has a fifty day simple moving average of $236.28 and a two-hundred day simple moving average of $223.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78. Cboe Global Markets, Inc. has a 12 month low of $187.30 and a 12 month high of $255.27. The stock has a market capitalization of $25.90 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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%. During the same quarter last year, the business posted $2.15 EPS. The company's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current year.

Cboe Global Markets Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 29th. This is a positive change from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's dividend payout ratio is 29.54%.

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.