Envestnet Asset Management Inc. Grows Holdings in Toronto–Dominion Bank (TD)

Envestnet Asset Management Inc. raised its stake in Toronto–Dominion Bank (NYSE:TD) (TSE:TD) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,723 shares of the bank’s stock after purchasing an additional 4,764 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Toronto–Dominion Bank were worth $5,725,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its stake in shares of Toronto–Dominion Bank by 166.9% during the fourth quarter. Mackenzie Financial Corp now owns 21,264,327 shares of the bank’s stock valued at $1,245,664,000 after acquiring an additional 13,296,812 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Toronto–Dominion Bank by 27.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 16,261,914 shares of the bank’s stock valued at $952,623,000 after acquiring an additional 3,527,079 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Toronto–Dominion Bank by 32.0% during the fourth quarter. CIBC Asset Management Inc now owns 15,197,616 shares of the bank’s stock valued at $894,188,000 after acquiring an additional 3,687,174 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Toronto–Dominion Bank by 4.2% during the fourth quarter. Acadian Asset Management LLC now owns 8,659,749 shares of the bank’s stock valued at $509,037,000 after acquiring an additional 350,373 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Toronto–Dominion Bank by 2.9% during the fourth quarter. Schroder Investment Management Group now owns 8,137,668 shares of the bank’s stock valued at $599,332,000 after acquiring an additional 228,549 shares in the last quarter. 48.96% of the stock is currently owned by institutional investors.

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Several brokerages have recently weighed in on TD. Zacks Investment Research upgraded Toronto–Dominion Bank from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday, February 15th. Desjardins upgraded Toronto–Dominion Bank from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Bank of America raised their target price on Toronto–Dominion Bank from $71.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, CIBC upgraded Toronto–Dominion Bank from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.20.

NYSE:TD opened at $56.85 on Friday. The stock has a market capitalization of $104,898.20, a P/E ratio of 13.41, a PEG ratio of 1.12 and a beta of 0.93. Toronto–Dominion Bank has a one year low of $45.18 and a one year high of $61.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93.

Toronto–Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, March 1st. The bank reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.06. The business had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $8.96 billion. Toronto–Dominion Bank had a return on equity of 15.76% and a net margin of 22.12%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. analysts predict that Toronto–Dominion Bank will post 4.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Tuesday, April 10th will be paid a $0.522 dividend. This represents a $2.09 dividend on an annualized basis and a yield of 3.67%. This is an increase from Toronto–Dominion Bank’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, April 9th. Toronto–Dominion Bank’s dividend payout ratio (DPR) is 45.99%.

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About Toronto–Dominion Bank

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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

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