Wealthfront Increases Stake in Cboe Global Markets by 9.5%

Wealthfront Advisers LLC has expanded its position in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE) by 9.5% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 36,723 shares after acquiring an additional 3,196 shares during this period. As of the latest filing, Wealthfront’s stake in Cboe is valued at approximately $9 million.

Several other institutional investors have also adjusted their holdings in Cboe Global Markets. For instance, Headlands Technologies LLC purchased a new position in the second quarter, valued at $31,000, while Twin Peaks Wealth Advisors LLC acquired shares worth $33,000. In a notable increase, Physician Wealth Advisors Inc. raised its holdings by 70.5% in the third quarter, now owning 133 shares valued at $33,000. Dakota Community Bank & Trust NA and Root Financial Partners LLC also made new investments in Cboe, with stakes worth approximately $42,000 and $51,000, respectively. Currently, institutional investors own approximately 82.67% of Cboe’s stock.

Analyst ratings for Cboe Global Markets reflect a generally positive outlook. Keefe, Bruyette & Woods increased their price target from $257.00 to $269.00 while maintaining a “market perform” rating. Citigroup also raised its target, now set at $265.00, and reaffirmed a “neutral” rating. Deutsche Bank Aktiengesellschaft reiterated their “buy” rating, and Royal Bank of Canada set a price objective of $303.00. Zacks Research upgraded the stock from a “hold” to a “strong-buy” rating, indicating a growing confidence among analysts.

As of the latest data from MarketBeat, Cboe Global Markets has received an average rating of “Hold” with a target price of $279.00. The company’s stock opened at $268.64 on Thursday. Financial metrics indicate a quick ratio of 1.39, a current ratio of 1.78, and a debt-to-equity ratio of 0.34. Over the past year, the stock has fluctuated between a low of $200.88 and a high of $283.13.

Cboe Global Markets recently reported its earnings on February 6, 2024, announcing earnings per share (EPS) of $3.06, which surpassed analysts’ expectations of $2.95 by $0.11. The company also demonstrated a net margin of 18.64% and a return on equity of 22.02%. Notably, revenue increased by 28% compared to the same quarter last year, with EPS reported at $2.10 during the corresponding quarter of 2023. Analysts predict that Cboe Global Markets will post an EPS of 8.96 for the current fiscal year.

In addition to its financial performance, Cboe Global Markets recently announced a dividend of $0.72 per share, which was paid on December 15, 2023, to shareholders of record as of December 1. The ex-dividend date was November 28, representing a yield of 112.0% and a dividend payout ratio of 27.64%.

Cboe Global Markets operates as a global market infrastructure company, managing a range of exchanges and trading venues across listed derivatives, cash equities, and foreign exchange. Established in 1973 as the Chicago Board Options Exchange, the company has grown through strategic acquisitions and organic development, establishing itself as a major player in the financial market landscape.

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