MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.51 per share by the financial services provider on Wednesday, May 22nd. This represents a $2.04 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, May 7th.
MarketAxess has increased its dividend by an average of 28.1% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. MarketAxess has a payout ratio of 47.4% meaning its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $5.88 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 34.7%.
MarketAxess stock opened at $265.46 on Friday. The stock has a market capitalization of $9.89 billion, a PE ratio of 58.09, a PEG ratio of 10.26 and a beta of 0.19. MarketAxess has a 12 month low of $172.09 and a 12 month high of $266.90.
In related news, CFO Antonio L. Delise sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $231.99, for a total transaction of $1,855,920.00. Following the sale, the chief financial officer now directly owns 36,901 shares in the company, valued at approximately $8,560,662.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Steinhardt sold 3,187 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $215.62, for a total value of $687,180.94. Following the sale, the director now owns 24,899 shares in the company, valued at $5,368,722.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,187 shares of company stock worth $6,961,901. Company insiders own 3.52% of the company’s stock.
A number of equities analysts have recently commented on MKTX shares. BidaskClub upgraded MarketAxess from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Zacks Investment Research downgraded MarketAxess from a “hold” rating to a “sell” rating in a report on Thursday, January 17th. Buckingham Research started coverage on MarketAxess in a report on Thursday, January 10th. They issued a “neutral” rating on the stock. Rosenblatt Securities started coverage on MarketAxess in a report on Monday, April 15th. They issued a “neutral” rating and a $255.00 price objective on the stock. Finally, Barclays raised their price objective on MarketAxess from $218.00 to $244.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. MarketAxess presently has a consensus rating of “Hold” and a consensus target price of $232.33.
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MarketAxess Company Profile
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 firms the access to global liquidity in U.S.
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