Munich Reinsurance Co Stock Corp in Munich Buys 32,245 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Munich Reinsurance increased its Toronto-Dominion Bank stake by 1,386.9% in the second quarter, purchasing 32,245 additional shares and bringing its holdings to 34,570 shares valued at approximately $4.2 million. Institutional investors collectively own 52.37% of TD.
• Analysts maintain a generally positive outlook, with TD receiving a consensus “Moderate Buy” rating and a $156 price target. Recent quarterly results also exceeded expectations, with earnings of $1.98 per share and revenue of $12.07 billion.
• TD declared a quarterly dividend of $1.12 per share, equivalent to an annualized $4.48 dividend and a 3.7% yield. The stock opened at $121.63 and remains near its 52-week high of $125.46.

Munich Reinsurance Co Stock Corp in Munich boosted its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 1,386.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,570 shares of the bank's stock after purchasing an additional 32,245 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Toronto Dominion Bank were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $2,125,963,000. Bank of Nova Scotia increased its holdings in Toronto Dominion Bank by 6.8% during the 4th quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank's stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Toronto Dominion Bank by 10.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank's stock worth $1,606,978,000 after purchasing an additional 1,629,062 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Toronto Dominion Bank by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock valued at $1,610,733,000 after purchasing an additional 968,122 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank's stock valued at $1,121,660,000 after purchasing an additional 3,496,645 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

TD has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods assumed coverage on Toronto Dominion Bank in a research note on Friday, August 21st. They issued a "market perform" rating on the stock. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Stock Down 1.4%

TD opened at $121.63 on Friday. The stock has a market cap of $200.06 billion, a PE ratio of 18.07, a P/E/G ratio of 1.23 and a beta of 0.73. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52 week low of $74.11 and a 52 week high of $125.46. The business's fifty day simple moving average is $120.76 and its 200 day simple moving average is $110.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The company had revenue of $12.07 billion for the quarter, compared to analysts' expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.Toronto Dominion Bank's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. As a group, research analysts expect that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank's dividend payout ratio (DPR) is 46.81%.

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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