MarketAxess Holdings Inc. (NASDAQ:MKTX) to Issue Dividend Increase – $0.74 Per Share

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

MarketAxess has increased its dividend payment by an average of 6.3% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. MarketAxess has a dividend payout ratio of 35.5% meaning 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

Shares of MarketAxess stock opened at $222.46 on Monday. MarketAxess has a 1-year low of $200.01 and a 1-year high of $399.78. The stock has a market cap of $8.43 billion, a P/E ratio of 32.60, a P/E/G ratio of 3.77 and a beta of 1.02. The stock’s 50 day simple moving average is $266.46 and its 200-day simple moving average is $244.22.

MarketAxess (NASDAQ:MKTXGet Free Report) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.11. The company had revenue of $197.20 million during the quarter, compared to analysts’ expectations of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 EPS. As a group, research analysts expect that MarketAxess will post 7.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on MKTX shares. Rosenblatt Securities reduced their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. William Blair reiterated an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Barclays lowered shares of MarketAxess from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $246.00 to $291.00 in a report on Monday, January 8th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley decreased their price target on MarketAxess from $308.00 to $284.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MarketAxess presently has an average rating of “Hold” and a consensus price target of $266.89.

Check Out Our Latest Stock Report on MKTX

Insiders Place Their Bets

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

Hedge Funds Weigh In On MarketAxess

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

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.

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Dividend History for MarketAxess (NASDAQ:MKTX)

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