US Bancorp DE cut its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,991 shares of the financial services provider’s stock after selling 657 shares during the quarter. US Bancorp DE owned 0.05% of MarketAxess worth $3,390,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MKTX. Principal Financial Group Inc. boosted its holdings in MarketAxess by 0.5% in the first quarter. Principal Financial Group Inc. now owns 160,724 shares of the financial services provider’s stock valued at $34,948,000 after purchasing an additional 836 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in MarketAxess by 32.2% in the second quarter. State of Alaska Department of Revenue now owns 4,470 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 1,090 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in MarketAxess by 13.2% in the second quarter. Xact Kapitalforvaltning AB now owns 5,144 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 600 shares during the last quarter. Bank of Montreal Can purchased a new stake in MarketAxess in the second quarter valued at $3,769,000. Finally, Louisiana State Employees Retirement System boosted its holdings in MarketAxess by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 300 shares during the last quarter. 99.13% of the stock is owned by institutional investors.

MKTX stock opened at $210.09 on Thursday. MarketAxess Holdings Inc. has a 52-week low of $171.53 and a 52-week high of $229.84. The stock has a market cap of $7.80 billion, a PE ratio of 53.87, a PEG ratio of 9.38 and a beta of 0.11.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.09. MarketAxess had a net margin of 37.97% and a return on equity of 29.40%. The business had revenue of $101.44 million for the quarter, compared to analyst estimates of $101.19 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that MarketAxess Holdings Inc. will post 4.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 6th. MarketAxess’s payout ratio is currently 43.08%.

In other news, CEO Richard M. Mcvey sold 23,842 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,054,986 shares of the company’s stock, valued at approximately $223,583,182.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.52% of the company’s stock.

MKTX has been the topic of several recent research reports. BidaskClub raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Zacks Investment Research lowered shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Monday, September 10th. Jefferies Financial Group initiated coverage on shares of MarketAxess in a report on Wednesday, August 1st. They issued a “hold” rating and a $219.00 price target on the stock. ValuEngine raised shares of MarketAxess from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Barclays initiated coverage on shares of MarketAxess in a report on Friday, September 7th. They issued an “equal weight” rating and a $200.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $210.63.

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MarketAxess 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 the access to global liquidity in U.S.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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