Bank of New York Mellon Corp Raises Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bank of New York Mellon Corp increased its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 440,934 shares of the financial services provider's stock after purchasing an additional 11,291 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.17% of MarketAxess worth $99,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in MarketAxess by 13.4% in the 4th quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider's stock valued at $452,246,000 after buying an additional 236,497 shares during the last quarter. FMR LLC lifted its stake in MarketAxess by 17.5% during the third quarter. FMR LLC now owns 1,959,043 shares of the financial services provider's stock worth $501,907,000 after purchasing an additional 291,134 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of MarketAxess by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 1,338,922 shares of the financial services provider's stock worth $343,032,000 after buying an additional 8,042 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MarketAxess by 14.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,076,877 shares of the financial services provider's stock worth $275,122,000 after buying an additional 139,949 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in MarketAxess in the fourth quarter valued at about $71,103,000. 99.01% of the stock is currently owned by institutional investors.

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MarketAxess Stock Down 1.0 %

MarketAxess stock traded down $2.04 during mid-day trading on Wednesday, hitting $195.85. 1,185,573 shares of the stock were exchanged, compared to its average volume of 681,335. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 3.89 and a beta of 1.02. MarketAxess Holdings Inc. has a 12 month low of $186.84 and a 12 month high of $296.68. The firm's fifty day simple moving average is $211.19 and its two-hundred day simple moving average is $242.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. As a group, analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from MarketAxess's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 1.55%. MarketAxess's dividend payout ratio is currently 41.82%.

Insider Buying and Selling at MarketAxess

In other news, General Counsel Scott Pintoff sold 300 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.66% of the company's stock.

Analyst Upgrades and Downgrades

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

MarketAxess Company 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.