3,181,800 Shares in Toronto Dominion Bank (The) $TD Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp disclosed a new fourth-quarter position in Toronto Dominion Bank, buying 3,181,800 shares worth about $299.9 million. The stake represents roughly 1.0% of its portfolio and 0.19% of TD’s outstanding shares.
• Institutional ownership in TD remains high, with firms like Vanguard, Norges Bank, and TD Asset Management also adding to or initiating positions. Overall, hedge funds and other institutions own 52.37% of the stock.
• TD reported better-than-expected quarterly results, earning $1.74 per share versus $1.63 expected, and it raised its quarterly dividend to $1.12 per share. Analysts currently have an average Moderate Buy rating and a $156 price target.

Alberta Investment Management Corp acquired a new position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,181,800 shares of the bank's stock, valued at approximately $299,850,000. Toronto Dominion Bank accounts for approximately 1.0% of Alberta Investment Management Corp's investment portfolio, making the stock its 25th biggest position. Alberta Investment Management Corp owned 0.19% of Toronto Dominion Bank as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after purchasing an additional 765,107 shares during the period. TD Asset Management Inc raised its position in Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank's stock worth $3,008,096,000 after purchasing an additional 246,999 shares during the period. Norges Bank purchased a new stake in Toronto Dominion Bank in the 4th quarter worth about $2,125,963,000. Canerector Inc. raised its position in Toronto Dominion Bank by 11,028.0% in the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Finally, Bank of Nova Scotia raised its position in Toronto Dominion Bank by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank's stock worth $1,836,518,000 after purchasing an additional 1,234,510 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TD has been the topic of a number of research reports. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday. 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 company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $156.00.

Toronto Dominion Bank Stock Performance

Shares of NYSE:TD opened at $117.33 on Tuesday. The firm has a market cap of $193.87 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72. The firm's 50 day simple moving average is $107.87 and its 200-day simple moving average is $98.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a one year low of $70.50 and a one year high of $118.55.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank's revenue was down 31.1% compared to the same quarter last year. During the same period last year, the company posted $1.97 earnings per share. As a group, equities analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.8%. Toronto Dominion Bank's dividend payout ratio is 48.52%.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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