Man Group plc Boosts Stock Position in Toronto-Dominion Bank (NYSE:TD)
Man Group plc grew its stake in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 608,661 shares of the bank’s stock after acquiring an additional 2,369 shares during the period. Man Group plc’s holdings in Toronto-Dominion Bank were worth $34,181,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. raised its position in shares of Toronto-Dominion Bank by 203.6% in the fourth quarter. Advisors Asset Management Inc. now owns 1,093 shares of the bank’s stock worth $61,000 after buying an additional 733 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Toronto-Dominion Bank by 338.7% in the fourth quarter. Captrust Financial Advisors now owns 8,086 shares of the bank’s stock worth $457,000 after buying an additional 6,243 shares in the last quarter. Financial Architects Inc raised its position in shares of Toronto-Dominion Bank by 2.3% in the fourth quarter. Financial Architects Inc now owns 8,520 shares of the bank’s stock worth $478,000 after buying an additional 190 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Toronto-Dominion Bank by 1.3% in the fourth quarter. First Republic Investment Management Inc. now owns 43,222 shares of the bank’s stock worth $2,426,000 after buying an additional 559 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Toronto-Dominion Bank in the fourth quarter worth $56,000. Institutional investors own 48.90% of the company’s stock.
A number of research firms recently commented on TD. Citigroup cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, December 17th. Canaccord Genuity cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. ValuEngine raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Cfra reduced their target price on Toronto-Dominion Bank from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus price target of $76.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.41. Toronto-Dominion Bank had a return on equity of 15.51% and a net margin of 20.73%. The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the firm earned $1.57 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Toronto-Dominion Bank will post 4.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a dividend of $0.597 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.56. This represents a $2.39 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Wednesday, April 8th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 45.33%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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