SVB Wealth LLC Buys New Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

SVB Wealth LLC bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,310 shares of the financial services provider's stock, valued at approximately $296,000.

A number of other institutional investors have also modified their holdings of the stock. Creative Planning increased its holdings in MarketAxess by 8.6% during the third quarter. Creative Planning now owns 1,777 shares of the financial services provider's stock valued at $455,000 after buying an additional 141 shares during the period. US Bancorp DE increased its holdings in MarketAxess by 12.6% during the third quarter. US Bancorp DE now owns 8,973 shares of the financial services provider's stock valued at $2,299,000 after buying an additional 1,006 shares during the period. Asset Management One Co. Ltd. increased its holdings in MarketAxess by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider's stock valued at $3,953,000 after buying an additional 50 shares during the period. Principal Financial Group Inc. increased its holdings in MarketAxess by 22.9% during the third quarter. Principal Financial Group Inc. now owns 55,679 shares of the financial services provider's stock valued at $14,265,000 after buying an additional 10,361 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its holdings in MarketAxess by 0.8% during the third quarter. Kornitzer Capital Management Inc. KS now owns 45,312 shares of the financial services provider's stock valued at $11,609,000 after buying an additional 338 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities analysts recently issued reports on MKTX shares. UBS Group cut their price objective on shares of MarketAxess from $330.00 to $305.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays cut their price objective on shares of MarketAxess from $256.00 to $225.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Piper Sandler cut their price objective on shares of MarketAxess from $265.00 to $240.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MarketAxess from $258.00 to $264.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group cut their price target on shares of MarketAxess from $235.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $254.78.

Insider Transactions at MarketAxess

In other news, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.66% of the company's stock.

MarketAxess Trading Up 1.4 %

Shares of NASDAQ:MKTX traded up $2.79 on Friday, hitting $208.94. 920,669 shares of the company were exchanged, compared to its average volume of 703,649. MarketAxess Holdings Inc. has a 1-year low of $186.84 and a 1-year high of $296.68. The stock's 50 day moving average price is $209.63 and its 200 day moving average price is $242.08. The firm has a market capitalization of $7.88 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.76 per share. This is an increase from MarketAxess's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, February 19th. MarketAxess's payout ratio is presently 41.82%.

MarketAxess Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.