Insider Buying: TMX Group (TSE:X) Insider Acquires C$2,002,422.40 in Stock

TMX Group Limited (TSE:X) insider John Mckenzie purchased 35,860 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average cost of C$55.84 per share, with a total value of C$2,002,422.40. Following the transaction, the insider directly owned 136,634 shares of the company’s stock, valued at approximately C$7,629,642.56. This represents a 35.58% increase in their ownership of the stock.

John Mckenzie also recently made the following trade(s):

• On Wednesday, May 6th, John Mckenzie sold 69,970 shares of TMX Group stock. The stock was sold at an average price of C$54.71, for a total transaction of C$3,828,058.70.

TMX Group Stock Performance

TSE:X opened at C$53.13 on Thursday. TMX Group Limited has a 12-month low of C$44.10 and a 12-month high of C$57.98. The company has a quick ratio of 0.01, a current ratio of 2.35 and a debt-to-equity ratio of 44.08. The firm has a market capitalization of C$14.67 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 12.65 and a beta of -0.34. The firm has a 50-day moving average price of C$51.02 and a 200 day moving average price of C$50.47.

TMX Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 22nd. TMX Group’s dividend payout ratio is currently 46.07%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on X. Barclays upped their price objective on shares of TMX Group from C$52.00 to C$59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Scotia upped their price objective on shares of TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 6th. BMO Capital Markets upped their price objective on shares of TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. National Bank Financial upped their price objective on shares of TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada upped their price objective on shares of TMX Group from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$64.50.

About TMX Group

TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.