Russell Investments Group Ltd. Acquires 24,074 Shares of Cboe Global Markets, Inc. (NASDAQ:CBOE)

Key Points

• Russell Investments Group Ltd. increased its stake in Cboe Global Markets by 13.4% to own a total of 203,078 shares, valued at approximately $45.91 million.
• Several institutional investors actively traded shares of Cboe, with 82.67% of the company's stock now held by institutions.
• Cboe Global Markets reported earnings per share of $2.46, exceeding analysts' expectations, and its revenue increased by 14.3% year-over-year.

Russell Investments Group Ltd. boosted its stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,078 shares of the company's stock after buying an additional 24,074 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Cboe Global Markets worth $45,913,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Clearstead Trust LLC bought a new stake in Cboe Global Markets in the first quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in shares of Cboe Global Markets during the 1st quarter valued at $27,000. Greenline Partners LLC bought a new position in Cboe Global Markets during the fourth quarter worth $29,000. Hughes Financial Services LLC acquired a new stake in Cboe Global Markets in the first quarter worth $29,000. Finally, Cornerstone Planning Group LLC increased its stake in Cboe Global Markets by 4,633.3% in 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 in the last quarter. Institutional investors own 82.67% of the company's stock.

Insider Activity at Cboe Global Markets

In related news, EVP Catherine R. Clay sold 3,598 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $226.58, for a total transaction of $815,234.84. Following the completion of the transaction, the executive vice president directly owned 2,183 shares of the company's stock, valued at approximately $494,624.14. This trade represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company's stock.

Cboe Global Markets Stock Performance

Cboe Global Markets stock traded up $3.92 during trading on Friday, reaching $247.63. The company had a trading volume of 740,424 shares, compared to its average volume of 874,303. The firm's 50-day simple moving average is $236.28 and its 200 day simple moving average is $223.57. Cboe Global Markets, Inc. has a 52 week low of $187.30 and a 52 week 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 $25.90 billion, a price-to-earnings 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 issued its quarterly earnings results 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%. Cboe Global Markets's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $2.15 earnings per share. Sell-side analysts forecast that Cboe Global Markets, Inc. will post 8.96 earnings per share 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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. 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. Cboe Global Markets's payout ratio is presently 33.76%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CBOE shares. Barclays raised their target price on Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a research note 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. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $254.00 target price on shares of Cboe Global Markets in a report on Monday, August 4th. Cowen reaffirmed a "hold" rating on shares of Cboe Global Markets in a research note on Monday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Cboe Global Markets from $250.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.