Sumitomo Life Insurance Co. Raises Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Sumitomo Life Insurance Co. lifted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,679 shares of the bank’s stock after purchasing an additional 610 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Toronto-Dominion Bank were worth $1,435,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. National Bank of Canada FI lifted its stake in shares of Toronto-Dominion Bank by 6.2% in the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after buying an additional 218,807 shares during the period. 1832 Asset Management L.P. lifted its position in Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after buying an additional 1,462,794 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Toronto-Dominion Bank by 9.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after buying an additional 1,206,574 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Toronto-Dominion Bank by 3.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock valued at $653,194,000 after acquiring an additional 358,283 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Up 0.0 %

Shares of NYSE TD opened at $56.33 on Thursday. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The firm has a market capitalization of $98.49 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.65 and a beta of 0.81. The stock has a 50 day moving average price of $60.67 and a 200 day moving average price of $58.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same period in the prior year, the business earned $1.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that The Toronto-Dominion Bank will post 5.85 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio is currently 96.49%.

Analysts Set New Price Targets

TD has been the subject of a number of recent analyst reports. Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. UBS Group assumed coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.