MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares to Pay Quarterly Dividend of $0.78

Key Points

• MarketAxess declared a quarterly dividend of $0.78 per share, payable November 25 to shareholders of record November 11. The dividend annualizes to $3.12 per share and represents a 1.9% yield.
• The dividend appears well covered, with a 36.7% earnings payout ratio and an expected future payout ratio of 35.5% based on analysts’ forecasts.
• MarketAxess reported quarterly earnings of $1.86 per share, missing the $1.95 consensus estimate, while revenue rose 0.8% year over year to $210.41 million. Institutional investors own 99.01% of the company, while insiders have been net sellers recently.

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) declared a quarterly dividend on Friday, October 23rd. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.78 per share by the financial services provider on Wednesday, November 25th. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 10th.

MarketAxess has a payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $8.78 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 35.5%.

MarketAxess Price Performance

Shares of MKTX traded up $0.01 during mid-day trading on Friday, hitting $164.67. 982,285 shares of the stock were exchanged, compared to its average volume of 756,596. The company has a market cap of $5.79 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.15 and a beta of 0.80. MarketAxess has a 52-week low of $108.75 and a 52-week high of $195.96. The firm has a 50-day moving average of $163.48 and a two-hundred day moving average of $146.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.85 and a current ratio of 1.85.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its earnings results on Friday, October 23rd. The financial services provider reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business had revenue of $210.41 million during the quarter. During the same period in the previous year, the business posted $1.84 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that MarketAxess will post 8.08 earnings per share for the current year.

Insider Buying and Selling

In other MarketAxess news, Director William Cruger, Jr. sold 6,164 shares of MarketAxess stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the completion of the transaction, the director directly owned 4,033 shares of the company's stock, valued at $658,185.60. The trade was a 60.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 6,464 shares of company stock worth $1,055,022 over the last ninety days. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MKTX. MBL Wealth LLC purchased a new position in MarketAxess during the 3rd quarter worth $260,000. Root Financial Partners LLC purchased a new stake in shares of MarketAxess in the 3rd quarter worth $56,000. Crossmark Global Holdings Inc. bought a new position in shares of MarketAxess during the 3rd quarter worth $259,000. Nisa Investment Advisors LLC grew its position in shares of MarketAxess by 4.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,574 shares of the financial services provider's stock worth $258,000 after buying an additional 66 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of MarketAxess by 97.0% in the third quarter. IFP Advisors Inc now owns 394 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

MarketAxess Company Profile

MarketAxess Holdings Inc operates an electronic trading platform for fixed-income securities and related market data services. The company connects institutional investors, broker-dealers and other market participants, enabling them to trade corporate bonds, government bonds, emerging-market debt and other credit products through digital workflows.

Its offerings include electronic request-for-quote trading, all-to-all trading through its Open Trading marketplace, portfolio trading, and tools designed to support pricing, liquidity discovery and trade execution.

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