MarketAxess Holdings Inc. (MKTX) to Issue Quarterly Dividend of $0.60 on August 19th
MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Wednesday, July 22nd, RTT News reports. Shareholders of record on Wednesday, August 5th will be paid a dividend of 0.60 per share by the financial services provider on Wednesday, August 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Tuesday, August 4th.
MarketAxess has raised its dividend payment by an average of 96.2% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. MarketAxess has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect MarketAxess to earn $7.91 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.3%.
NASDAQ:MKTX opened at $516.70 on Friday. The company has a market capitalization of $19.62 billion, a PE ratio of 74.88 and a beta of 0.63. The company has a quick ratio of 7.53, a current ratio of 7.42 and a debt-to-equity ratio of 0.11. MarketAxess has a 52-week low of $275.49 and a 52-week high of $561.68. The stock has a fifty day simple moving average of $514.01 and a 200-day simple moving average of $426.10.
MKTX has been the subject of several research reports. Rosenblatt Securities lifted their price target on MarketAxess from $455.00 to $465.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Deutsche Bank lifted their price target on MarketAxess from $535.00 to $555.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. BidaskClub downgraded MarketAxess from a “buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Piper Sandler boosted their target price on shares of MarketAxess from $520.00 to $535.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Credit Suisse Group boosted their target price on shares of MarketAxess from $410.00 to $448.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $403.00.
In other news, insider Christophe Pierre Danie Roupie sold 1,920 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $457.00, for a total transaction of $877,440.00. Following the completion of the transaction, the insider now owns 10,914 shares of the company’s stock, valued at approximately $4,987,698. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard M. Mcvey sold 25,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $483.62, for a total transaction of $12,090,500.00. Following the transaction, the chief executive officer now directly owns 952,077 shares of the company’s stock, valued at approximately $460,443,478.74. The disclosure for this sale can be found here. Insiders sold a total of 29,170 shares of company stock valued at $14,047,103 in the last three months. 3.05% of the stock is currently owned by corporate insiders.
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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