Raymond James Financial Inc. purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 203,854 shares of the financial services provider's stock, valued at approximately $46,079,000. Raymond James Financial Inc. owned approximately 0.54% of MarketAxess as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in MarketAxess by 22.9% during the 3rd quarter. Principal Financial Group Inc. now owns 55,679 shares of the financial services provider's stock worth $14,265,000 after purchasing an additional 10,361 shares during the last quarter. Assetmark Inc. raised its holdings in MarketAxess by 160.3% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider's stock worth $97,000 after purchasing an additional 234 shares during the last quarter. Versor Investments LP bought a new stake in MarketAxess during the 3rd quarter worth about $266,000. Cumberland Partners Ltd bought a new stake in MarketAxess during the 3rd quarter worth about $512,000. Finally, Geneva Capital Management LLC raised its holdings in MarketAxess by 25.6% during the 3rd quarter. Geneva Capital Management LLC now owns 15,325 shares of the financial services provider's stock worth $3,926,000 after purchasing an additional 3,121 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.
MarketAxess Stock Performance
NASDAQ MKTX opened at $209.96 on Wednesday. The business has a 50 day simple moving average of $209.38 and a 200 day simple moving average of $242.06. MarketAxess Holdings Inc. has a 52-week low of $186.84 and a 52-week high of $296.68. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 3.89 and a beta of 1.05.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. On average, analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.
MarketAxess Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 19th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.45%. This is a boost from MarketAxess's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Wednesday, February 19th. MarketAxess's dividend payout ratio is presently 41.82%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MKTX. Piper Sandler dropped their price objective on MarketAxess from $265.00 to $240.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. UBS Group dropped their price objective on MarketAxess from $330.00 to $305.00 and set a "buy" rating for the company in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on MarketAxess from $235.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Barclays lowered their price target on MarketAxess from $256.00 to $225.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods lowered their price target on MarketAxess from $251.00 to $225.00 and set a "market perform" rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, MarketAxess currently has an average rating of "Hold" and a consensus target price of $254.78.
Read Our Latest Analysis on MarketAxess
MarketAxess Profile
(
Free Report)
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.
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