AIA Group Ltd Trims Holdings in Toll Brothers, Inc. (NYSE:TOL)

AIA Group Ltd cut its stake in Toll Brothers, Inc. (NYSE:TOL) by 22.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,817 shares of the construction company’s stock after selling 3,683 shares during the quarter. AIA Group Ltd’s holdings in Toll Brothers were worth $1,317,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Toll Brothers by 9.1% in the first quarter. Vanguard Group Inc. now owns 11,623,797 shares of the construction company’s stock valued at $546,551,000 after purchasing an additional 968,528 shares in the last quarter. State Street Corp boosted its stake in Toll Brothers by 1.1% during the first quarter. State Street Corp now owns 4,070,929 shares of the construction company’s stock valued at $191,415,000 after buying an additional 45,004 shares during the period. Dimensional Fund Advisors LP boosted its stake in Toll Brothers by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,773,505 shares of the construction company’s stock valued at $177,444,000 after buying an additional 353,364 shares during the period. Millennium Management LLC boosted its stake in Toll Brothers by 271.6% during the fourth quarter. Millennium Management LLC now owns 3,096,331 shares of the construction company’s stock valued at $154,569,000 after buying an additional 2,263,039 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Toll Brothers by 6.0% during the third quarter. AQR Capital Management LLC now owns 2,467,336 shares of the construction company’s stock valued at $182,484,000 after buying an additional 139,004 shares during the period. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toll Brothers

In related news, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $116.05, for a total transaction of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at approximately $5,770,122.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $116.05, for a total transaction of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at approximately $5,770,122.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen F. East sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $119.32, for a total value of $178,980.00. Following the transaction, the director now owns 9,389 shares in the company, valued at approximately $1,120,295.48. The disclosure for this sale can be found here. Insiders have sold a total of 66,500 shares of company stock worth $7,881,930 in the last 90 days. Company insiders own 1.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TOL. Keefe, Bruyette & Woods lifted their price objective on Toll Brothers from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Citigroup lifted their price objective on Toll Brothers from $116.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Barclays lifted their price target on Toll Brothers from $95.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. The Goldman Sachs Group lifted their price target on Toll Brothers from $94.00 to $96.00 and gave the stock a “sell” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company lifted their price target on Toll Brothers from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.80.

Toll Brothers Trading Up 0.2 %

NYSE TOL opened at $113.43 on Friday. Toll Brothers, Inc. has a 1-year low of $61.17 and a 1-year high of $130.63. The company has a current ratio of 4.95, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $117.23 and a 200-day moving average of $98.64. The firm has a market cap of $11.82 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.94 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last released its earnings results on Wednesday, February 21st. The construction company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.48. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $1.70 EPS. Toll Brothers’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Toll Brothers, Inc. will post 13.71 EPS for the current year.

Toll Brothers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, April 4th. This is an increase from Toll Brothers’s previous quarterly dividend of $0.21. Toll Brothers’s payout ratio is currently 7.11%.

About Toll Brothers

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.