The Toronto-Dominion Bank (NYSE:TD) Stake Increased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. lifted its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,469,207 shares of the bank’s stock after acquiring an additional 16,714 shares during the period. Toronto-Dominion Bank makes up approximately 3.6% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 8th largest position. Dixon Mitchell Investment Counsel Inc. owned approximately 0.08% of Toronto-Dominion Bank worth $78,193,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock valued at $380,118,000 after buying an additional 2,279,864 shares during the period. Quadrature Capital Ltd increased its position in Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after acquiring an additional 1,571,700 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after acquiring an additional 1,206,574 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $55.25 on Thursday. The company has a market cap of $96.70 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.72 and a beta of 0.83. The firm’s fifty day moving average is $54.52 and its two-hundred day moving average is $57.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a dividend of $0.7482 per share. This represents a $2.99 annualized dividend and a yield of 5.42%. The ex-dividend date is Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 87.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TD shares. Royal Bank of Canada cut their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Finally, Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $80.50.

About Toronto-Dominion Bank

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.