Northwestern Mutual Wealth Management Co. Purchases 6,968 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Toronto Dominion Bank by 16.4%, owning a total of 49,509 shares worth approximately $2.97 million as of the end of the first quarter.
• Toronto Dominion Bank declared a quarterly dividend of $1.05 per share, up from the previous $0.76, representing an annualized yield of 5.8%.
• Institutional investors collectively own 52.37% of Toronto Dominion Bank's stock, and the company's stock has a current market capitalization of $124.97 billion.

Northwestern Mutual Wealth Management Co. lifted its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,509 shares of the bank's stock after acquiring an additional 6,968 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Toronto Dominion Bank were worth $2,968,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Toronto Dominion Bank by 41.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank's stock worth $264,134,000 after acquiring an additional 1,302,281 shares during the period. Portland Investment Counsel Inc. boosted its holdings in shares of Toronto Dominion Bank by 2.3% in the first quarter. Portland Investment Counsel Inc. now owns 462,900 shares of the bank's stock worth $27,738,000 after acquiring an additional 10,500 shares during the period. Compound Planning Inc. boosted its holdings in shares of Toronto Dominion Bank by 220.6% in the first quarter. Compound Planning Inc. now owns 13,371 shares of the bank's stock worth $801,000 after acquiring an additional 9,201 shares during the period. Erste Asset Management GmbH boosted its holdings in shares of Toronto Dominion Bank by 5.1% in the first quarter. Erste Asset Management GmbH now owns 243,395 shares of the bank's stock worth $14,588,000 after acquiring an additional 11,848 shares during the period. Finally, Legacy Financial Advisors Inc. bought a new position in shares of Toronto Dominion Bank in the first quarter worth $210,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Trading Up 3.0%

Shares of NYSE TD traded up $2.20 during trading hours on Friday, hitting $75.05. The company's stock had a trading volume of 2,901,963 shares, compared to its average volume of 1,942,968. 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 stock has a market cap of $128.73 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 1.63 and a beta of 0.81. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $78.95. The business has a 50-day simple moving average of $73.79 and a 200-day simple moving average of $66.55.

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

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's payout ratio is presently 45.31%.

Analyst Ratings Changes

TD has been the subject of several research analyst reports. Scotiabank initiated coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada lifted their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.