Insider Selling: TMX Group (TSE:X) Insider Sells C$3,828,058.70 in Stock

TMX Group Limited (TSE:X) insider John Mckenzie sold 69,970 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of C$54.71, for a total value of C$3,828,058.70. Following the completion of the sale, the insider directly owned 100,774 shares in the company, valued at C$5,513,345.54. This trade represents a 40.98% decrease in their position.

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

• On Friday, May 8th, John Mckenzie acquired 35,860 shares of TMX Group stock. The stock was bought at an average price of C$55.84 per share, for a total transaction of C$2,002,422.40.

TMX Group Stock Down 2.5%

Shares of TSE:X opened at C$53.13 on Thursday. The company has a quick ratio of 0.01, a current ratio of 2.35 and a debt-to-equity ratio of 44.08. TMX Group Limited has a 52-week low of C$44.10 and a 52-week high of C$57.98. The stock’s fifty day simple moving average is C$51.02 and its 200-day simple moving average is C$50.47. The company has a market capitalization of C$14.67 billion, a P/E ratio of 27.82, a P/E/G ratio of 12.65 and a beta of -0.34.

TMX Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on X. Raymond James Financial upped their price target on TMX Group from C$61.00 to C$61.50 and gave the stock a “strong-buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada raised their price objective on TMX Group from C$65.00 to C$69.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. National Bank Financial raised their price objective on TMX Group from C$63.00 to C$64.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their price objective on TMX Group from C$64.00 to C$61.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Finally, Barclays raised their price objective on TMX Group from C$52.00 to C$59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.