CIBC Private Wealth Group LLC Has $1.19 Million Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

CIBC Private Wealth Group LLC lowered its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 4.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,404 shares of the financial services provider’s stock after selling 257 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in MarketAxess were worth $1,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MKTX. California Public Employees Retirement System grew its holdings in shares of MarketAxess by 15.0% during the 4th quarter. California Public Employees Retirement System now owns 62,605 shares of the financial services provider’s stock worth $14,151,000 after purchasing an additional 8,164 shares in the last quarter. Schroder Investment Management Group grew its stake in MarketAxess by 1.2% during the fourth quarter. Schroder Investment Management Group now owns 92,136 shares of the financial services provider’s stock worth $20,758,000 after buying an additional 1,057 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in MarketAxess by 471.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 83,668 shares of the financial services provider’s stock valued at $18,912,000 after buying an additional 69,021 shares during the period. Allianz SE acquired a new position in shares of MarketAxess in the 4th quarter valued at approximately $27,000. Finally, Allstate Corp bought a new stake in shares of MarketAxess during the 4th quarter worth approximately $244,000. Institutional investors own 99.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MKTX shares. Keefe, Bruyette & Woods lowered their price objective on shares of MarketAxess from $251.00 to $225.00 and set a “market perform” rating for the company in a research report on Friday, February 7th. UBS Group lowered their price target on MarketAxess from $330.00 to $305.00 and set a “buy” rating for the company in a report on Friday, February 7th. Barclays reduced their price objective on MarketAxess from $256.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group lowered their target price on MarketAxess from $235.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, Piper Sandler reduced their price target on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $255.44.

MarketAxess Price Performance

NASDAQ:MKTX opened at $216.15 on Friday. MarketAxess Holdings Inc. has a one year low of $186.84 and a one year high of $296.68. The firm’s 50 day simple moving average is $206.87 and its 200 day simple moving average is $238.03. The company has a market cap of $8.15 billion, a PE ratio of 29.73, a P/E/G ratio of 3.89 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. Equities research analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from MarketAxess’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Wednesday, February 19th. MarketAxess’s dividend payout ratio (DPR) is 41.82%.

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.