JPMorgan Chase & Co. Has $78.05 Million Stake in MarketAxess Holdings Inc. $MKTX

JPMorgan Chase & Co. raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 447,925 shares of the financial services provider’s stock after buying an additional 28,881 shares during the quarter. JPMorgan Chase & Co. owned about 1.20% of MarketAxess worth $78,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of MarketAxess by 992.9% in the 2nd quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 139 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of MarketAxess in the 3rd quarter valued at $38,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of MarketAxess during the 3rd quarter worth $43,000. Institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on MarketAxess from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. UBS Group reduced their price target on shares of MarketAxess from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Argus lowered their price objective on shares of MarketAxess from $212.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Wall Street Zen raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Barclays decreased their target price on shares of MarketAxess from $182.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MarketAxess has an average rating of “Hold” and an average price target of $200.40.

MarketAxess Price Performance

MKTX stock opened at $181.65 on Tuesday. The company has a market capitalization of $6.75 billion, a P/E ratio of 27.27, a PEG ratio of 3.94 and a beta of 0.97. The company has a fifty day moving average price of $175.32 and a 200-day moving average price of $175.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.60 and a current ratio of 3.42. MarketAxess Holdings Inc. has a 52-week low of $156.17 and a 52-week high of $232.84.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). The company had revenue of $209.41 million during the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.7%. This is a boost from MarketAxess’s previous quarterly dividend of $0.76. MarketAxess’s payout ratio is currently 46.85%.

MarketAxess Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.