Intact Investment Management Inc. Has $161.20 Million Holdings in The Toronto-Dominion Bank (NYSE:TD)

Intact Investment Management Inc. lifted its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,549,134 shares of the bank’s stock after buying an additional 3,910 shares during the period. Toronto-Dominion Bank accounts for 5.4% of Intact Investment Management Inc.’s portfolio, making the stock its biggest position. Intact Investment Management Inc.’s holdings in Toronto-Dominion Bank were worth $161,202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank in the second quarter valued at about $31,000. Blue Trust Inc. grew its stake in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Toronto-Dominion Bank in the second quarter valued at about $49,000. BOKF NA grew its stake in Toronto-Dominion Bank by 203.6% in the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the last quarter. Finally, Eastern Bank purchased a new position in Toronto-Dominion Bank in the third quarter valued at about $66,000. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TD shares. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $54.99 on Monday. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The firm has a market capitalization of $96.15 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50-day simple moving average is $60.15 and its 200-day simple moving average is $57.91.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that The Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.739 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.38%. Toronto-Dominion Bank’s dividend payout ratio is currently 96.17%.

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.