American International Group Inc. decreased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,412 shares of the financial services provider’s stock after selling 590 shares during the period. American International Group Inc.’s holdings in MarketAxess were worth $6,941,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in shares of MarketAxess during the 2nd quarter valued at about $1,597,000. State of Michigan Retirement System boosted its position in shares of MarketAxess by 11.3% during the 2nd quarter. State of Michigan Retirement System now owns 9,681 shares of the financial services provider’s stock valued at $4,849,000 after purchasing an additional 981 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of MarketAxess by 384.3% during the 2nd quarter. Victory Capital Management Inc. now owns 120,037 shares of the financial services provider’s stock valued at $60,129,000 after purchasing an additional 95,251 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of MarketAxess by 416.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,065 shares of the financial services provider’s stock valued at $5,542,000 after purchasing an additional 8,921 shares in the last quarter. Finally, IBM Retirement Fund boosted its position in shares of MarketAxess by 39.0% during the 3rd quarter. IBM Retirement Fund now owns 1,198 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 336 shares in the last quarter. 91.72% of the stock is owned by institutional investors.
Shares of NASDAQ:MKTX opened at $522.93 on Monday. The business’s 50 day simple moving average is $528.64 and its two-hundred day simple moving average is $501.62. The firm has a market cap of $19.85 billion, a P/E ratio of 72.03 and a beta of 0.46. MarketAxess Holdings Inc. has a 52-week low of $275.49 and a 52-week high of $606.45.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.46%. MarketAxess’s dividend payout ratio is presently 44.44%.
Several brokerages recently commented on MKTX. Raymond James restated a “buy” rating on shares of MarketAxess in a research report on Monday, October 5th. Piper Sandler upped their target price on MarketAxess from $520.00 to $535.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price target on MarketAxess from $517.00 to $562.00 and gave the stock a “hold” rating in a report on Wednesday, October 28th. Rosenblatt Securities increased their price target on MarketAxess from $561.00 to $575.00 and gave the stock a “neutral” rating in a report on Friday, November 6th. Finally, BidaskClub lowered MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Monday, November 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MarketAxess has a consensus rating of “Hold” and an average price target of $478.33.
In other news, CEO Richard M. Mcvey sold 32,017 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $450.85, for a total value of $14,434,864.45. Following the transaction, the chief executive officer now owns 973,085 shares in the company, valued at $438,715,372.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Themelis sold 17,262 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $554.71, for a total value of $9,575,404.02. Following the sale, the insider now directly owns 43,624 shares of the company’s stock, valued at $24,198,669.04. The disclosure for this sale can be found here. Insiders sold 59,979 shares of company stock worth $29,438,386 in the last 90 days. Corporate insiders own 3.05% of the company’s stock.
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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