TMX Group (TSE:X) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

TMX Group Limited (TSE:X)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$50.66 and traded as high as C$52.90. TMX Group shares last traded at C$51.99, with a volume of 688,181 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on X. National Bank Financial raised their target price on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. BMO Capital Markets raised their target price on TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Raymond James Financial raised their target price on TMX Group from C$61.00 to C$61.50 and gave the stock a “strong-buy” rating in a research report on Friday, April 17th. Barclays raised their target price on TMX Group from C$52.00 to C$59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Scotia raised their target price on TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, TMX Group presently has an average rating of “Moderate Buy” and an average target price of C$64.50.

TMX Group Stock Performance

The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08. The company has a 50-day moving average price of C$52.18 and a two-hundred day moving average price of C$50.66. The stock has a market capitalization of C$14.36 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 12.65 and a beta of -0.34.

TMX Group Dividend Announcement

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

Insider Activity at TMX Group

In other news, insider John Mckenzie bought 35,860 shares of TMX Group stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of C$55.84 per share, for a total transaction of C$2,002,422.40. Following the purchase, the insider directly owned 136,634 shares in the company, valued at approximately C$7,629,642.56. This represents a 35.58% increase in their position. 1.15% of the stock is currently owned by corporate insiders.

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.