NewGen Asset Management Ltd Invests $3.55 Million in The Toronto-Dominion Bank (NYSE:TD)

NewGen Asset Management Ltd bought a new stake in shares of The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 59,200 shares of the bank’s stock, valued at approximately $3,548,000. Toronto-Dominion Bank makes up 2.3% of NewGen Asset Management Ltd’s holdings, making the stock its 17th biggest position.

Several other large investors have also bought and sold shares of TD. Vanguard Group Inc. grew its position in Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares in the last quarter. FIL Ltd increased its holdings in shares of Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. Mackenzie Financial Corp lifted its position in Toronto-Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after purchasing an additional 1,491,472 shares during the period. Norges Bank bought a new position in Toronto-Dominion Bank in the fourth quarter worth $992,204,000. Finally, Beutel Goodman & Co Ltd. grew its position in Toronto-Dominion Bank by 3.8% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after acquiring an additional 622,736 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

NYSE:TD opened at $70.26 on Thursday. The company has a fifty day moving average of $63.85 and a 200-day moving average of $59.31. The firm has a market capitalization of $121.03 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.95 and a beta of 0.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $70.76.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last announced its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. As a group, sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.48 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Thursday, July 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 44.72%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank assumed coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a “sector perform” rating on the stock. Wall Street Zen raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Royal Bank of Canada increased their price target on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of $93.00.

Read Our Latest Stock Analysis on TD

Toronto-Dominion Bank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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