Global Retirement Partners LLC lifted its position in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 37.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,946 shares of the bank’s stock after buying an additional 534 shares during the quarter. Global Retirement Partners LLC’s holdings in Toronto-Dominion Bank were worth $125,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of TD. The Manufacturers Life Insurance Company lifted its stake in shares of Toronto-Dominion Bank by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,191,055 shares of the bank’s stock worth $816,926,000 after purchasing an additional 97,866 shares during the period. Legal & General Group Plc boosted its stake in Toronto-Dominion Bank by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 11,288,200 shares of the bank’s stock worth $738,624,000 after buying an additional 760,101 shares during the last quarter. Scotia Capital Inc. grew its holdings in Toronto-Dominion Bank by 0.8% in the 2nd quarter. Scotia Capital Inc. now owns 9,769,983 shares of the bank’s stock valued at $640,507,000 after buying an additional 81,152 shares during the period. Toronto Dominion Bank increased its stake in shares of Toronto-Dominion Bank by 39.9% during the 2nd quarter. Toronto Dominion Bank now owns 7,589,856 shares of the bank’s stock valued at $497,682,000 after acquiring an additional 2,163,713 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Toronto-Dominion Bank by 3.2% in the third quarter. National Bank of Canada FI now owns 5,295,196 shares of the bank’s stock worth $324,625,000 after acquiring an additional 163,015 shares during the last quarter. Institutional investors and hedge funds own 49.22% of the company’s stock.
Toronto-Dominion Bank Price Performance
TD stock opened at $67.20 on Wednesday. The stock has a 50-day simple moving average of $65.80 and a 200-day simple moving average of $64.81. The firm has a market cap of $122.43 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The Toronto-Dominion Bank has a 1 year low of $57.27 and a 1 year high of $86.01.
Toronto-Dominion Bank Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be paid a dividend of $0.7081 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, January 5th. This represents a $2.83 annualized dividend and a yield of 4.21%. Toronto-Dominion Bank’s payout ratio is 38.66%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on TD. National Bank Financial dropped their price target on shares of Toronto-Dominion Bank from C$106.00 to C$103.00 in a research report on Friday, November 18th. Credit Suisse Group upped their price objective on Toronto-Dominion Bank from C$96.00 to C$98.00 in a report on Friday, December 2nd. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and lifted their target price for the company from C$95.00 to C$103.00 in a report on Monday, December 5th. Scotiabank dropped their price target on Toronto-Dominion Bank from C$103.00 to C$100.00 in a research note on Tuesday, December 20th. Finally, Canaccord Genuity Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Friday, December 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.00.
About Toronto-Dominion Bank
The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
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