Royal Bank of Canada Sells 387,608 Shares of Cboe Global Markets, Inc. $CBOE

Key Points

• Royal Bank of Canada significantly reduced its holdings in Cboe Global Markets by 69.1%, owning 173,160 shares worth approximately $39.18 million at the end of the first quarter.
• Cboe Global Markets recently announced an increase in its quarterly dividend to $0.72 per share, representing an annual yield of 1.2%.
• The stock has shown positive performance, with a 14.3% increase in quarterly revenue compared to the previous year, and the company beat earnings estimates by $0.03 per share in its last report.

Royal Bank of Canada cut its position in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 69.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,160 shares of the company's stock after selling 387,608 shares during the quarter. Royal Bank of Canada owned about 0.17% of Cboe Global Markets worth $39,183,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC bought a new stake in shares of Cboe Global Markets in the first quarter valued at $265,000. Capital Investment Advisory Services LLC bought a new stake in shares of Cboe Global Markets in the first quarter valued at $277,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Cboe Global Markets by 31.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 29,561 shares of the company's stock valued at $6,689,000 after buying an additional 7,146 shares during the period. GAM Holding AG bought a new stake in shares of Cboe Global Markets in the first quarter valued at $1,541,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Cboe Global Markets in the first quarter valued at $3,463,000. 82.67% of the stock is currently owned by institutional investors.

Cboe Global Markets Price Performance

Shares of CBOE traded down $1.84 during midday trading on Friday, reaching $234.53. The stock had a trading volume of 601,359 shares, compared to its average volume of 874,287. The company's 50-day moving average is $240.92 and its 200 day moving average is $227.75. Cboe Global Markets, Inc. has a 12-month low of $187.30 and a 12-month 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 company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 32.48, 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 data on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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%.During the same period in the previous year, the company posted $2.15 earnings per share. Cboe Global Markets's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts predict that Cboe Global Markets, Inc. will post 8.96 EPS for the current fiscal year.

Cboe Global Markets Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.72 dividend. This is a boost from Cboe Global Markets's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is 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 is presently 33.76%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBOE. Barclays lifted their price target on Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. UBS Group reiterated a "neutral" rating and issued a $255.00 price target (up from $245.00) on shares of Cboe Global Markets in a research report on Monday, August 4th. Citigroup lifted their price target on Cboe Global Markets from $230.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley set a $218.00 target price on Cboe Global Markets and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Cboe Global Markets currently has a consensus rating of "Reduce" and a consensus price target of $231.38.

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.