Toronto Dominion Bank (The) $TD is Intact Investment Management Inc.'s Largest Position

Key Points

• Intact Investment Management raised its stake in Toronto Dominion Bank by 4.7% to 2,309,626 shares, making TD its largest position (~6.3% of Intact's portfolio) valued at $217.67 million (0.14% of TD outstanding).
• Other major institutions also boosted holdings—Vanguard owns 77.25 million shares (~$7.28B) and Massachusetts Financial Services increased its stake 25.9% to 15.21 million shares—with hedge funds and institutions now holding about 52.37% of TD.
• TD beat quarterly expectations with EPS of $1.76 (vs. $1.63 est.) and revenue of $11.01 billion (up 18.1% YoY), and it pays a quarterly dividend of $1.08 (annualized $4.32) for a ~4.0% yield and a ~34.4% payout ratio.

Intact Investment Management Inc. grew its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,309,626 shares of the bank's stock after purchasing an additional 103,149 shares during the quarter. Toronto Dominion Bank makes up approximately 6.3% of Intact Investment Management Inc.'s portfolio, making the stock its biggest position. Intact Investment Management Inc. owned 0.14% of Toronto Dominion Bank worth $217,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Toronto Dominion Bank by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after acquiring an additional 765,107 shares during the period. TD Asset Management Inc lifted its stake in Toronto Dominion Bank by 0.7% in the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank's stock worth $3,008,096,000 after acquiring an additional 246,999 shares during the period. Canerector Inc. lifted its stake in Toronto Dominion Bank by 11,028.0% in the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Toronto Dominion Bank by 25.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after acquiring an additional 3,129,457 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Toronto Dominion Bank by 3.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,113,286 shares of the bank's stock worth $808,477,000 after acquiring an additional 316,901 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Price Performance

TD opened at $107.39 on Monday. The stock has a fifty day simple moving average of $98.22 and a two-hundred day simple moving average of $92.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a market cap of $177.85 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.22 and a beta of 0.71. Toronto Dominion Bank has a 12-month low of $62.79 and a 12-month high of $108.35.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. The business had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 earnings per share. Research analysts predict that Toronto Dominion Bank will post 6.87 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th were issued a $1.08 dividend. The ex-dividend date was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.0%. Toronto Dominion Bank's dividend payout ratio is 34.36%.

Analyst Ratings Changes

A number of analysts recently commented on TD shares. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Weiss Ratings raised Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research note on Friday, March 27th. Finally, Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

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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