Toll Brothers, Inc. (NYSE:TOL) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,907 shares of the construction company's stock after selling 17,702 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Toll Brothers worth $10,954,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in shares of Toll Brothers by 27.4% in the 3rd quarter. Private Trust Co. NA now owns 2,662 shares of the construction company's stock valued at $411,000 after acquiring an additional 572 shares during the period. Hancock Whitney Corp acquired a new position in Toll Brothers during the third quarter worth $908,000. Independent Advisor Alliance grew its stake in shares of Toll Brothers by 7.2% in the third quarter. Independent Advisor Alliance now owns 2,225 shares of the construction company's stock valued at $344,000 after buying an additional 149 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Toll Brothers by 86.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 6,549 shares of the construction company's stock valued at $1,011,000 after buying an additional 3,035 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Toll Brothers by 135.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,000 shares of the construction company's stock worth $1,854,000 after acquiring an additional 6,900 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company's stock.

Insiders Place Their Bets

In related news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the company's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $154.51, for a total transaction of $7,725,500.00. Following the transaction, the chief executive officer now owns 246,382 shares of the company's stock, valued at $38,068,482.82. This represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin P. Connor sold 5,000 shares of the firm's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $155.44, for a total value of $777,200.00. Following the completion of the sale, the chief financial officer now directly owns 9,721 shares of the company's stock, valued at approximately $1,511,032.24. This trade represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,000 shares of company stock worth $16,435,800. 1.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TOL has been the subject of several research reports. Royal Bank of Canada lifted their target price on Toll Brothers from $130.00 to $143.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $142.00 price objective on shares of Toll Brothers in a research note on Wednesday, August 21st. StockNews.com cut Toll Brothers from a "buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Wells Fargo & Company increased their price target on Toll Brothers from $163.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, Barclays upped their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, August 22nd. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.87.

Toll Brothers Stock Performance

Shares of NYSE TOL traded down $1.19 during midday trading on Tuesday, reaching $162.72. 155,216 shares of the company were exchanged, compared to its average volume of 1,341,601. The stock has a market cap of $16.43 billion, a P/E ratio of 11.30, a PEG ratio of 1.24 and a beta of 1.69. Toll Brothers, Inc. has a 1 year low of $86.38 and a 1 year high of $169.52. The stock has a fifty day simple moving average of $153.72 and a 200 day simple moving average of $137.83. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.23 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.57%. Toll Brothers's dividend payout ratio is currently 6.34%.

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.