MarketAxess Holdings Inc. (NASDAQ:MKTX) Plans Quarterly Dividend of $0.74

MarketAxess Holdings Inc. (NASDAQ:MKTXGet Free Report) announced a quarterly dividend on Thursday, January 18th, Zacks reports. Stockholders of record on Wednesday, February 14th will be paid a dividend of 0.74 per share by the financial services provider on Wednesday, February 28th. This represents a $2.96 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from MarketAxess’s previous quarterly dividend of $0.72.

MarketAxess has raised its dividend by an average of 6.3% annually over the last three years and has raised its dividend every year for the last 16 years. MarketAxess has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $8.36 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 35.4%.

MarketAxess Price Performance

NASDAQ MKTX opened at $222.46 on Monday. The company’s 50 day simple moving average is $266.46 and its two-hundred day simple moving average is $244.22. MarketAxess has a 1 year low of $200.01 and a 1 year high of $399.78. The stock has a market capitalization of $8.43 billion, a PE ratio of 32.60, a P/E/G ratio of 3.77 and a beta of 1.02.

MarketAxess (NASDAQ:MKTXGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.11. The company had revenue of $197.20 million for the quarter, compared to the consensus estimate of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. On average, research analysts anticipate that MarketAxess will post 7.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MKTX shares. Citigroup increased their price target on shares of MarketAxess from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Rosenblatt Securities dropped their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Morgan Stanley reduced their target price on shares of MarketAxess from $308.00 to $284.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Finally, William Blair reissued an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, MarketAxess has a consensus rating of “Hold” and an average target price of $266.89.

Get Our Latest Research Report on MKTX

Insiders Place Their Bets

In other news, CRO Kevin M. Mcpherson sold 920 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $260.50, for a total value of $239,660.00. Following the completion of the transaction, the executive now owns 68,959 shares in the company, valued at approximately $17,963,819.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,020 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $230.95, for a total value of $235,569.00. Following the sale, the executive now owns 69,879 shares in the company, valued at $16,138,555.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Kevin M. Mcpherson sold 920 shares of MarketAxess stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $260.50, for a total transaction of $239,660.00. Following the transaction, the executive now owns 68,959 shares of the company’s stock, valued at $17,963,819.50. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC increased its holdings in shares of MarketAxess by 94.6% during the first quarter. Clear Street Markets LLC now owns 72 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 35 shares in the last quarter. VitalStone Financial LLC bought a new position in MarketAxess in the 1st quarter worth about $31,000. Compass Wealth Management LLC purchased a new stake in MarketAxess during the 4th quarter valued at about $41,000. State of Wyoming increased its stake in MarketAxess by 32.9% during the 2nd quarter. State of Wyoming now owns 206 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 51 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in MarketAxess in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About MarketAxess

(Get Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed-income securities.

See Also

Dividend History for MarketAxess (NASDAQ:MKTX)

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