Principal Financial Group Inc. Has $1.02 Million Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Principal Financial Group cut its TD stake by 71.5% in the first quarter, selling 27,600 shares and retaining 11,000 shares valued at approximately $1.02 million. Institutional investors and hedge funds collectively own 52.37% of TD.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and a $156 price target, despite some recent downgrades. TD shares opened at $119.86, near their 52-week high of $124.87.
• TD exceeded quarterly earnings and revenue expectations, reporting $1.74 in EPS and $11.80 billion in revenue, although revenue fell 31.1% year over year. The bank also raised its quarterly dividend to $1.12 per share, implying a 3.7% annual yield.

Principal Financial Group Inc. lowered its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 71.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,000 shares of the bank's stock after selling 27,600 shares during the quarter. Principal Financial Group Inc.'s holdings in Toronto Dominion Bank were worth $1,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bayban bought a new position in Toronto Dominion Bank during the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd grew its stake in shares of Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank in the 4th quarter worth approximately $34,000. Brown Lisle Cummings Inc. raised its holdings in shares of Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock worth $38,000 after buying an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock worth $38,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TD. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Scotiabank raised Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Weiss Ratings downgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Stock Up 0.1%

Shares of TD opened at $119.86 on Friday. The company has a market capitalization of $197.14 billion, a P/E ratio of 18.70, a PEG ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Toronto Dominion Bank has a one year low of $72.21 and a one year high of $124.87. The business's 50 day simple moving average is $118.24 and its 200-day simple moving average is $105.57.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the company earned $1.97 EPS. Toronto Dominion Bank's revenue for the quarter was down 31.1% on a year-over-year basis. As a group, sell-side analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a dividend of $1.12 per share. The ex-dividend date was Friday, July 10th. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 49.14%.

About Toronto Dominion Bank

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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