MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Thursday, October 25th, Wall Street Journal reports. Shareholders of record on Wednesday, November 7th will be given a dividend of 0.42 per share by the financial services provider on Wednesday, November 21st. This represents a $1.68 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 6th.
MarketAxess has increased its dividend payment by an average of 27.3% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. MarketAxess has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect MarketAxess to earn $5.16 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 32.6%.
MKTX opened at $209.67 on Thursday. MarketAxess has a 52 week low of $171.53 and a 52 week high of $229.84. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 9.83 and a beta of 0.44.
A number of analysts have commented on the stock. BidaskClub lowered shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. ValuEngine lowered shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $210.00 target price on shares of MarketAxess in a report on Thursday, July 26th. Zacks Investment Research cut shares of MarketAxess from a “hold” rating to a “sell” rating in a research report on Friday, July 6th. Finally, Compass Point began coverage on shares of MarketAxess in a research report on Tuesday, July 24th. They set a “neutral” rating and a $205.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $210.63.
In related news, CEO Richard M. Mcvey sold 10,959 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $189.31, for a total value of $2,074,648.29. Following the sale, the chief executive officer now directly owns 1,054,743 shares of the company’s stock, valued at approximately $199,673,397.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard M. Mcvey sold 23,842 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $211.93, for a total transaction of $5,052,835.06. Following the completion of the sale, the chief executive officer now directly owns 1,054,986 shares in the company, valued at $223,583,182.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,646 shares of company stock worth $17,607,921. Insiders own 3.52% of the company’s stock.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.
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