Bank of New York Mellon Corp Purchases 11,291 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bank of New York Mellon Corp increased its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 440,934 shares of the financial services provider’s stock after buying an additional 11,291 shares during the period. Bank of New York Mellon Corp owned about 1.17% of MarketAxess worth $99,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Hawaiian Bank bought a new stake in shares of MarketAxess in the 4th quarter valued at about $1,088,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in MarketAxess in the third quarter worth approximately $1,966,000. Mediolanum International Funds Ltd purchased a new stake in MarketAxess during the fourth quarter worth $982,000. Principal Financial Group Inc. boosted its position 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 valued at $14,265,000 after acquiring an additional 10,361 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of MarketAxess by 111.4% in the 4th quarter. abrdn plc now owns 6,464 shares of the financial services provider’s stock valued at $1,455,000 after acquiring an additional 3,407 shares during the period. 99.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKTX has been the topic of a number of recent research reports. Barclays dropped their price objective on MarketAxess from $256.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Keefe, Bruyette & Woods lowered their price target on shares of MarketAxess from $251.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. UBS Group reduced their price objective on shares of MarketAxess from $330.00 to $305.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, 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 research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MarketAxess presently has an average rating of “Hold” and a consensus target price of $254.78.

MarketAxess Price Performance

Shares of MKTX stock opened at $192.79 on Friday. The business has a fifty day moving average of $212.53 and a 200 day moving average of $243.34. MarketAxess Holdings Inc. has a 1 year low of $186.84 and a 1 year high of $296.68. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 3.89 and a beta of 1.02.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) 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, equities research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.58%. This is a boost from MarketAxess’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, February 19th. MarketAxess’s payout ratio is presently 41.82%.

Insider Activity

In related news, General Counsel Scott Pintoff sold 300 shares of the business’s 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 transaction, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.66% of the company’s stock.

About MarketAxess

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.