Auto Owners Insurance Co Grows Stock Position in Toronto Dominion Bank (The) $TD

Auto Owners Insurance Co grew its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 9,320.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,965,443 shares of the bank’s stock after purchasing an additional 3,923,347 shares during the quarter. Auto Owners Insurance Co’s holdings in Toronto Dominion Bank were worth $396,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its stake in Toronto Dominion Bank by 21.8% during the third quarter. Citigroup Inc. now owns 935,526 shares of the bank’s stock valued at $74,821,000 after buying an additional 167,736 shares during the period. TD Asset Management Inc raised its holdings in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after acquiring an additional 246,999 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Toronto Dominion Bank by 433.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank’s stock valued at $1,528,000 after acquiring an additional 13,179 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at about $299,850,000. Finally, JCIC Asset Management Inc. grew its holdings in shares of Toronto Dominion Bank by 891.5% during the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank’s stock worth $8,035,000 after purchasing an additional 76,650 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Trading Up 0.1%

Shares of TD opened at $119.38 on Friday. Toronto Dominion Bank has a fifty-two week low of $70.50 and a fifty-two week high of $120.27. The firm has a market cap of $197.27 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.32 and a beta of 0.72. The firm has a 50 day moving average price of $109.64 and a 200-day moving average price of $99.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. As a group, equities research analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a $1.12 dividend. The ex-dividend date is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.8%. Toronto Dominion Bank’s dividend payout ratio is presently 48.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on TD shares. Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

About Toronto Dominion Bank

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.