Mirae Asset Global Investments Co. Ltd. Purchases 5,614 Shares of The Toronto-Dominion Bank (NYSE:TD)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,389 shares of the bank’s stock after purchasing an additional 5,614 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Toronto-Dominion Bank were worth $3,062,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TD. Norges Bank purchased a new stake in Toronto-Dominion Bank during the fourth quarter worth about $1,484,341,000. JPMorgan Chase & Co. increased its holdings in Toronto-Dominion Bank by 40.7% during the first quarter. JPMorgan Chase & Co. now owns 15,905,184 shares of the bank’s stock worth $952,719,000 after buying an additional 4,604,833 shares during the last quarter. State Street Corp increased its holdings in Toronto-Dominion Bank by 38,639.3% during the second quarter. State Street Corp now owns 3,121,614 shares of the bank’s stock worth $193,571,000 after buying an additional 3,113,556 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Toronto-Dominion Bank by 20.1% during the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after buying an additional 2,870,662 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Toronto-Dominion Bank by 37.0% during the third quarter. Canada Pension Plan Investment Board now owns 8,996,955 shares of the bank’s stock worth $544,542,000 after buying an additional 2,431,743 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TD. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday. Barclays began coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $89.33.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $56.83 on Thursday. The company has a 50 day moving average of $59.43 and a 200 day moving average of $60.07. The stock has a market cap of $100.19 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.73 and a beta of 0.86. The Toronto-Dominion Bank has a 12 month low of $54.69 and a 12 month high of $66.15. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. As a group, sell-side analysts forecast that The Toronto-Dominion Bank will post 5.85 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be paid a dividend of $0.7519 per share. The ex-dividend date is Monday, April 8th. This represents a $3.01 annualized dividend and a yield of 5.29%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s payout ratio is currently 30.56%.

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.