Robeco Institutional Asset Management B.V. Raises Stock Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in MarketAxess Holdings Inc. by 26.4% during the 2nd quarter, now owning approximately 0.20% of the company, valued at $16.75 million.
• MarketAxess reported $2.00 EPS for the last quarter, beating estimates of $1.94, with a year-over-year revenue increase of 11.0% to $219.46 million.
• The company announced a quarterly dividend of $0.76 per share, leading to an annualized dividend of $3.04 and a yield of 1.8%.

Robeco Institutional Asset Management B.V. boosted its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 26.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the financial services provider's stock after purchasing an additional 15,685 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.20% of MarketAxess worth $16,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its stake in shares of MarketAxess by 2.6% in the second quarter. Truist Financial Corp now owns 8,638 shares of the financial services provider's stock worth $1,929,000 after buying an additional 222 shares during the last quarter. Campbell Newman Asset Management Inc. grew its holdings in MarketAxess by 7.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 3,535 shares of the financial services provider's stock worth $790,000 after acquiring an additional 233 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of MarketAxess by 25.3% in the 2nd quarter. HB Wealth Management LLC now owns 1,736 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 351 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of MarketAxess by 27.7% during the second quarter. V Square Quantitative Management LLC now owns 1,188 shares of the financial services provider's stock worth $265,000 after purchasing an additional 258 shares during the last quarter. Finally, Norris Perne & French LLP MI grew its stake in MarketAxess by 0.5% in the second quarter. Norris Perne & French LLP MI now owns 36,939 shares of the financial services provider's stock worth $8,250,000 after purchasing an additional 195 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $170.50 on Friday. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.32 and a beta of 0.89. MarketAxess Holdings Inc. has a 12 month low of $168.74 and a 12 month high of $296.68. The stock's 50 day moving average price is $186.80 and its 200 day moving average price is $207.41.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The company had revenue of $219.46 million for the quarter, compared to analysts' expectations of $218.05 million. During the same period last year, the firm earned $1.72 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.76 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.04 annualized dividend and a dividend yield of 1.8%. MarketAxess's dividend payout ratio (DPR) is 51.18%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays cut their price objective on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley dropped their price target on MarketAxess from $274.00 to $253.00 and set an "overweight" rating on the stock in a research report on Wednesday. Argus raised shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price objective for the company in a report on Monday, August 25th. UBS Group lowered their target price on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Piper Sandler restated a "neutral" rating and issued a $204.00 price target (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MarketAxess currently has an average rating of "Hold" and a consensus price target of $226.18.

Insider Activity at MarketAxess

In other MarketAxess news, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $186.59, for a total value of $298,544.00. Following the transaction, the director owned 43,208 shares in the company, valued at approximately $8,062,180.72. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Kevin M. Mcpherson sold 1,494 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the transaction, the executive directly owned 67,681 shares in the company, valued at $12,542,642.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

MarketAxess Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.

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