The Manufacturers Life Insurance Company Buys 115,203 Shares of Toronto Dominion Bank (The) $TD

Key Points

• The Manufacturers Life Insurance Company increased its stake in Toronto Dominion Bank by 115,203 shares (a 0.8% rise), bringing its holding to 13,815,706 shares worth approximately $1.01 billion, making TD its 11th-largest position.
• Toronto Dominion Bank beat quarterly estimates with $1.56 EPS (vs. $1.46 est.) and $11.44 billion revenue, and raised its quarterly dividend to $1.08 (annualized $4.32, ~4.7% yield; ex-dividend Jan 9, payable Jan 31).
• Other institutional moves include a new ~$1.54 billion stake by Norges Bank and a 93.9% increase by Goldman Sachs, while analysts maintain a consensus rating of Moderate Buy with an average price target of $93.00.

The Manufacturers Life Insurance Company boosted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,815,706 shares of the bank's stock after buying an additional 115,203 shares during the period. Toronto Dominion Bank makes up approximately 0.9% of The Manufacturers Life Insurance Company's portfolio, making the stock its 11th biggest position. The Manufacturers Life Insurance Company owned approximately 0.81% of Toronto Dominion Bank worth $1,010,852,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Toronto Dominion Bank in the second quarter valued at approximately $1,543,639,000. Goldman Sachs Group Inc. raised its position in shares of 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 worth $732,252,000 after purchasing an additional 5,917,078 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Toronto Dominion Bank by 48.9% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock worth $886,174,000 after purchasing an additional 4,853,498 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank by 81.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock valued at $630,746,000 after purchasing an additional 4,729,657 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Toronto Dominion Bank in the 2nd quarter valued at $267,475,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Friday, October 3rd. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Jefferies Financial Group lowered Toronto Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, November 25th. Finally, Raymond James Financial raised Toronto Dominion Bank to a "hold" rating in a research note on Monday, November 24th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Toronto Dominion Bank Stock Up 2.4%

Toronto Dominion Bank stock opened at $91.30 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $154.25 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $91.52. The firm's 50-day simple moving average is $82.08 and its 200 day simple moving average is $76.72.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. Research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be given a $1.08 dividend. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, January 9th. Toronto Dominion Bank's payout ratio is presently 35.87%.

Toronto Dominion Bank Profile

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.

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