JPMorgan Chase & Co. Has $157.52 Million Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

JPMorgan Chase & Co. trimmed its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,813 shares of the financial services provider’s stock after selling 45,346 shares during the period. JPMorgan Chase & Co. owned about 1.63% of MarketAxess worth $157,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC acquired a new position in shares of MarketAxess in the third quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in MarketAxess in the 2nd quarter valued at $27,000. Exchange Traded Concepts LLC acquired a new position in shares of MarketAxess in the 3rd quarter valued at $54,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 200 shares during the period. Finally, Assetmark Inc. boosted its position in shares of MarketAxess by 160.3% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

Insider Activity at MarketAxess

In related news, Chairman Richard M. Mcvey sold 10,000 shares of MarketAxess stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the transaction, the chairman now owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Scott Pintoff sold 300 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at $1,997,212.14. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,300 shares of company stock worth $8,183,871 over the last ninety days. Company insiders own 2.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Piper Sandler restated a “neutral” rating and set a $265.00 target price on shares of MarketAxess in a research report on Thursday, November 7th. Barclays lowered their price target on MarketAxess from $289.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. UBS Group lifted their price objective on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, MarketAxess currently has an average rating of “Hold” and a consensus price target of $264.60.

MarketAxess Price Performance

MKTX stock opened at $226.04 on Wednesday. The stock has a market capitalization of $8.52 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 9.49 and a beta of 1.00. The company has a 50 day moving average price of $257.57 and a 200 day moving average price of $244.73. MarketAxess Holdings Inc. has a fifty-two week low of $192.42 and a fifty-two week high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 7.38 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is 40.11%.

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.