Ensign Peak Advisors Reduces Stake in Cboe Global Markets by 2.4%

Ensign Peak Advisors Inc has reduced its holdings in Cboe Global Markets, Inc. by 2.4%, selling 2,136 shares during the second quarter of 2023. This decision was detailed in the firm’s recent Form 13F filing with the Securities and Exchange Commission. Following this sale, Ensign Peak Advisors holds 85,831 shares of Cboe, representing approximately 0.08% of the company, valued at around $20 million.

The latest changes in Ensign Peak’s portfolio reflect broader trends among institutional investors. In the same quarter, Renaissance Group LLC acquired a new stake in Cboe Global Markets worth approximately $320,000. Additionally, Vanguard Group Inc. increased its holdings by 1.5%, now owning 12,833,038 shares valued at approximately $2.99 billion after purchasing an additional 195,086 shares.

Empowered Funds LLC made a significant move, boosting its position by an impressive 1,248.3% during the second quarter, acquiring 64,761 shares valued at $15.1 million. Meanwhile, Pinnacle Wealth Planning Services Inc. and Dorsey & Whitney Trust CO LLC also adjusted their positions, highlighting the ongoing activity surrounding Cboe Global Markets.

Currently, institutional investors hold 82.67% of Cboe’s stock, indicating strong institutional interest.

Analysts Adjust Price Targets for Cboe Global Markets

In light of recent trading data, several research firms have revised their price targets for Cboe Global Markets. On November 3, 2023, UBS Group increased its price objective from $255 to $265, maintaining a “neutral” rating. The Royal Bank of Canada reaffirmed a “sector perform” rating with a target of $254, while Zacks Research upgraded the stock from a “hold” to a “strong-buy” rating.

Loop Capital set a more ambitious target price of $287, reflecting optimistic projections. Citigroup also raised its target from $260 to $265, echoing a neutral stance. Currently, Cboe Global Markets has received one “Strong Buy” rating, three “Buy” ratings, nine “Hold” ratings, and three “Sell” ratings. According to MarketBeat data, the consensus rating stands at “Hold” with an average price target of $243.38.

Cboe Global Markets Performance Review

Cboe Global Markets’ stock opened at $252.60 on November 3, 2023, experiencing a 1.1% decline. The company has a market capitalization of $26.43 billion, with a price-to-earnings ratio of 34.99 and a price-to-earnings-growth ratio of 1.75. Cboe’s 12-month low stands at $187.30, while the high reaches $262.98.

On October 31, 2023, Cboe Global Markets reported quarterly earnings of $2.67 per share, surpassing analysts’ estimates of $2.53 by $0.14. The company achieved a return on equity of 22.02% and a net margin of 18.64%, with revenues increasing by 13.8% year-over-year. Analysts predict that Cboe Global Markets will post an EPS of $8.96 for the current fiscal year.

Cboe Global Markets, Inc. ranks among the largest stock exchange operators in the United States and is a leading marketplace for exchange-traded products (ETPs) globally. The company offers a diverse array of trading options across various asset classes and geographies, including options, futures, equities, foreign exchange, and innovative volatility products based on the VIX Index.