Korea Investment CORP grew its holdings in TD Ameritrade Holding Corp. (NASDAQ:AMTD) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 458,070 shares of the financial services provider’s stock after purchasing an additional 39,546 shares during the period. Korea Investment CORP’s holdings in TD Ameritrade were worth $25,088,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AMTD. Summit Trail Advisors LLC grew its stake in TD Ameritrade by 6,041.6% during the 1st quarter. Summit Trail Advisors LLC now owns 171,903 shares of the financial services provider’s stock worth $172,000 after buying an additional 169,104 shares during the last quarter. First Mercantile Trust Co. purchased a new position in TD Ameritrade during the 1st quarter worth approximately $186,000. Symphony Asset Management LLC purchased a new position in TD Ameritrade during the 1st quarter worth approximately $214,000. Cigna Investments Inc. New purchased a new position in TD Ameritrade during the 1st quarter worth approximately $217,000. Finally, Jump Trading LLC purchased a new position in TD Ameritrade during the 1st quarter worth approximately $227,000. Institutional investors and hedge funds own 91.04% of the company’s stock.
Shares of AMTD stock opened at $57.73 on Thursday. TD Ameritrade Holding Corp. has a twelve month low of $42.40 and a twelve month high of $63.01. The company has a market capitalization of $33.25 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.63 and a beta of 1.30. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32.
TD Ameritrade (NASDAQ:AMTD) last announced its earnings results on Monday, July 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. TD Ameritrade had a return on equity of 21.71% and a net margin of 24.42%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was up 48.4% on a year-over-year basis. equities analysts expect that TD Ameritrade Holding Corp. will post 3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 7th were paid a $0.21 dividend. The ex-dividend date was Monday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 1.46%. TD Ameritrade’s dividend payout ratio (DPR) is currently 45.65%.
A number of research firms recently issued reports on AMTD. BidaskClub upgraded TD Ameritrade from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Bank of America set a $67.00 price target on TD Ameritrade and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Barclays raised their price target on TD Ameritrade from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Morgan Stanley dropped their price target on TD Ameritrade from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 25th. Finally, Credit Suisse Group upgraded TD Ameritrade from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $58.00 to $63.00 in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. TD Ameritrade currently has a consensus rating of “Buy” and an average target price of $65.19.
In other news, Director Joseph H. Moglia sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director now directly owns 125,000 shares of the company’s stock, valued at approximately $7,500,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter J. Desilva purchased 5,000 shares of TD Ameritrade stock in a transaction dated Tuesday, August 21st. The stock was acquired at an average cost of $56.73 per share, with a total value of $283,650.00. Following the completion of the acquisition, the executive vice president now directly owns 24,000 shares in the company, valued at $1,361,520. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.
TD Ameritrade Profile
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. Its products and services include tdameritrade.com, a Web platform for self-directed retail investors; Trade Architect, a Web-based platform for investors and traders to identify opportunities and stay informed; thinkorswim, a desktop platform for traders; and TD Ameritrade Mobile, which allows on-the-go investors and traders to trade and monitor accounts.
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