Rafferty Asset Management LLC Sells 2,615 Shares of Cboe Global Markets, Inc. $CBOE

Key Points

• Rafferty Asset Management LLC reduced its stake in Cboe Global Markets, Inc. by 7.1%, selling 2,615 shares and holding 34,320 shares valued at $7,766,000.
• Cboe Global Markets recently declared a quarterly dividend of $0.72, increasing from their previous $0.63 dividend, with a total annualized dividend of $2.88.
• The company reported a 14.3% increase in revenue for the last quarter and earnings per share of $2.46, exceeding analysts' expectations of $2.43.

Rafferty Asset Management LLC lessened its stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,320 shares of the company's stock after selling 2,615 shares during the quarter. Rafferty Asset Management LLC's holdings in Cboe Global Markets were worth $7,766,000 at the end of the most recent quarter.

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

Cboe Global Markets Stock Performance

Cboe Global Markets stock opened at $237.95 on Thursday. Cboe Global Markets, Inc. has a 1-year low of $187.30 and a 1-year high of $255.27. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $24.89 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46. The firm's 50 day simple moving average is $239.81 and its 200 day simple moving average is $225.58.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.15 earnings per share. As a group, analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal 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 represents a $2.88 annualized dividend and a dividend yield of 1.2%. 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. Cboe Global Markets's payout ratio is 33.76%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer set a $265.00 target price on shares of Cboe Global Markets and gave the stock an "outperform" rating in a research report on Monday, August 4th. Citigroup raised their price objective on shares of Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on shares of Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Piper Sandler increased their target price 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. Finally, Barclays raised their price target on Cboe Global Markets from $243.00 to $256.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $231.38.

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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