Raymond James Financial Inc. Has $63.55 Million Position in Cboe Global Markets, Inc. $CBOE

Key Points

• Raymond James Financial Inc. has reduced its holdings in Cboe Global Markets by 7.3%, now owning 280,834 shares valued at approximately $63.55 million.
• Cboe Global Markets recently reported earnings of $2.46 EPS, exceeding expectations and reflecting a 14.3% year-over-year revenue increase.
• The company announced a quarterly dividend increase to $0.72 per share, representing a 1.1% dividend yield, up from its previous dividend of $0.63.

Raymond James Financial Inc. reduced its holdings in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 280,834 shares of the company's stock after selling 22,167 shares during the period. Raymond James Financial Inc. owned 0.27% of Cboe Global Markets worth $63,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in shares of Cboe Global Markets during the 1st quarter worth about $26,000. NBC Securities Inc. acquired a new position in shares of Cboe Global Markets during the 1st quarter worth about $27,000. Greenline Partners LLC acquired a new position in shares of Cboe Global Markets during the 4th quarter worth about $29,000. Hughes Financial Services LLC acquired a new position in shares of Cboe Global Markets during the 1st quarter worth about $29,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Cboe Global Markets by 4,633.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock worth $30,000 after purchasing an additional 139 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Cboe Global Markets Stock Performance

Shares of CBOE stock opened at $251.93 on Thursday. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 1.75 and a beta of 0.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78. The company has a 50-day simple moving average of $237.89 and a 200 day simple moving average of $224.33. Cboe Global Markets, Inc. has a 52 week low of $187.30 and a 52 week high of $255.27.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. The firm's revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.15 earnings per share. On average, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's payout ratio is presently 33.76%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group restated a "neutral" rating and set a $255.00 price objective (up from $245.00) on shares of Cboe Global Markets in a research note on Monday, August 4th. Piper Sandler boosted their price objective on shares of Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Citigroup boosted their price objective on shares of Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Barclays boosted their price objective on shares of Cboe Global Markets from $243.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Two equities research 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 MarketBeat, Cboe Global Markets presently has a consensus rating of "Reduce" and an average target price of $231.38.

Insider Transactions at Cboe Global Markets

In other Cboe Global Markets news, EVP Catherine R. Clay sold 3,598 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $226.58, for a total value of $815,234.84. Following the completion of the sale, the executive vice president owned 2,183 shares of the company's stock, valued at $494,624.14. The trade was a 62.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

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.

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