Prudential PLC raised its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 219.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,567 shares of the financial services provider's stock after buying an additional 5,198 shares during the quarter. Prudential PLC's holdings in MarketAxess were worth $1,710,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in MarketAxess in the fourth quarter valued at approximately $119,095,000. Congress Asset Management Co. bought a new stake in shares of MarketAxess in the 4th quarter valued at $71,103,000. Van ECK Associates Corp increased its position in shares of 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in MarketAxess during the 4th quarter worth $46,079,000. Finally, Geode Capital Management LLC increased its holdings in shares of MarketAxess by 14.9% in the third quarter. Geode Capital Management LLC now owns 1,076,877 shares of the financial services provider's stock worth $275,122,000 after acquiring an additional 139,949 shares in the last quarter. 99.01% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
MKTX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on MarketAxess from $251.00 to $225.00 and set a "market perform" rating on the stock in a report on Friday, February 7th. William Blair started coverage on shares of MarketAxess in a research note on Friday, April 4th. They issued an "outperform" rating on the stock. Barclays increased their price objective on shares of MarketAxess from $225.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Monday. Morgan Stanley upgraded shares of MarketAxess from an "equal weight" rating to an "overweight" rating in a report on Tuesday. Finally, Bank of America upped their target price on shares of MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $252.11.
Check Out Our Latest Analysis on MKTX
MarketAxess Trading Up 4.7 %
Shares of MarketAxess stock traded up $9.85 during trading hours on Friday, reaching $220.17. 280,938 shares of the company's stock were exchanged, compared to its average volume of 481,018. MarketAxess Holdings Inc. has a fifty-two week low of $186.84 and a fifty-two week high of $296.68. The stock has a market cap of $8.30 billion, a P/E ratio of 30.18, a P/E/G ratio of 3.89 and a beta of 1.12. The company has a 50 day moving average of $204.90 and a two-hundred day moving average of $235.51.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. As a group, analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.
MarketAxess Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.76 per share. 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 1.38%. The ex-dividend date was Wednesday, February 19th. MarketAxess's dividend payout ratio is 41.82%.
MarketAxess Company 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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