QRG Capital Management Inc. Raises Stock Holdings in Cboe Global Markets, Inc. $CBOE

Key Points

• QRG Capital Management Inc. significantly increased its stake in Cboe Global Markets by 110.5%, acquiring a total of 30,959 shares valued at approximately $7,220,000.
• Several institutional investors, including Alliancebernstein L.P. and Citigroup Inc., also raised their stakes in Cboe, reflecting a growing confidence in the company, which now sees 82.67% of its stock owned by such entities.
• Cboe Global Markets recently announced an increase in its quarterly dividend to $0.72, up from the previous $0.63, reflecting its strong financial performance amid a 14.3% year-over-year revenue growth.

QRG Capital Management Inc. raised its position in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 110.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,959 shares of the company's stock after buying an additional 16,253 shares during the quarter. QRG Capital Management Inc.'s holdings in Cboe Global Markets were worth $7,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBOE. Alliancebernstein L.P. raised its stake in Cboe Global Markets by 23.1% during the first quarter. Alliancebernstein L.P. now owns 9,464,537 shares of the company's stock valued at $2,141,730,000 after buying an additional 1,779,048 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cboe Global Markets by 400.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,067,566 shares of the company's stock valued at $241,580,000 after buying an additional 854,325 shares in the last quarter. Nuveen LLC acquired a new stake in Cboe Global Markets during the first quarter valued at approximately $74,789,000. Perpetual Ltd acquired a new stake in Cboe Global Markets during the first quarter valued at approximately $66,981,000. Finally, Citigroup Inc. raised its stake in Cboe Global Markets by 510.8% during the first quarter. Citigroup Inc. now owns 340,185 shares of the company's stock valued at $76,980,000 after buying an additional 284,489 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CBOE shares. Morgan Stanley restated an "underweight" rating and set a $221.00 price objective on shares of Cboe Global Markets in a research note on Wednesday. Piper Sandler increased their price target 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. Barclays increased their price target 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. UBS Group reiterated a "neutral" rating and set a $255.00 price target (up from $245.00) on shares of Cboe Global Markets in a research report on Monday, August 4th. Finally, Loop Capital set a $261.00 target price on Cboe Global Markets in a research report on Thursday. Two investment 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 MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $234.23.

Cboe Global Markets Price Performance

CBOE opened at $239.54 on Monday. The stock has a fifty day moving average of $241.54 and a 200-day moving average of $230.69. The firm has a market capitalization of $25.05 billion, a P/E ratio of 33.18, a PEG ratio of 1.75 and a beta of 0.44. Cboe Global Markets, Inc. has a 12-month low of $187.30 and a 12-month high of $255.27. 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 (NASDAQ:CBOE - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $2.15 earnings per share. Equities analysts forecast that Cboe Global Markets, Inc. will post 8.96 EPS for the current fiscal 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 issued a $0.72 dividend. The ex-dividend date was Friday, August 29th. This is an increase from Cboe Global Markets's previous quarterly dividend of $0.63. This represents a $2.88 dividend on an annualized basis 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.

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