Lansforsakringar Fondforvaltning AB publ Trims Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Toronto Dominion Bank by 4.1% in the first quarter, owning 383,363 shares valued at approximately $22.97 million.
• The bank recently announced an increase in its quarterly dividend to $1.05 per share, translating to an annualized dividend of $4.20 and a yield of 5.8%.
• Analysts are mixed on the stock, with a consensus rating of "Hold" and a price target of $93.00, after various firms adjusted their ratings in recent months.

Lansforsakringar Fondforvaltning AB publ cut its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 383,363 shares of the bank's stock after selling 16,543 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Toronto Dominion Bank were worth $22,968,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TD. Vanguard Group Inc. boosted its position in Toronto Dominion Bank by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank's stock valued at $4,472,194,000 after acquiring an additional 516,288 shares in the last quarter. TD Asset Management Inc raised its position in shares of Toronto Dominion Bank by 0.4% in the 1st quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock worth $2,218,918,000 after acquiring an additional 162,563 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Toronto Dominion Bank by 4.5% during the 1st quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock worth $1,752,806,000 after purchasing an additional 1,262,062 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Toronto Dominion Bank by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after purchasing an additional 181,781 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after purchasing an additional 5,917,078 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Performance

TD stock traded up $2.20 during trading on Monday, reaching $75.05. The company had a trading volume of 2,901,963 shares, compared to its average volume of 1,942,968. The company has a market cap of $128.73 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.81. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $78.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day simple moving average of $73.79 and a 200-day simple moving average of $66.59.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $13.73 billion. During the same quarter last year, the company posted $2.05 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a $1.05 dividend. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio is currently 35.40%.

Wall Street Analyst Weigh In

Several research firms have commented on TD. Royal Bank Of Canada increased their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Scotiabank began coverage on shares of Toronto Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $93.00.

About Toronto Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.