The Toronto-Dominion Bank (NYSE:TD) is TD Asset Management Inc.’s 7th Largest Position

TD Asset Management Inc. lessened its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,873,016 shares of the bank’s stock after selling 4,637,904 shares during the period. Toronto-Dominion Bank comprises approximately 1.7% of TD Asset Management Inc.’s holdings, making the stock its 7th largest holding. TD Asset Management Inc. owned about 2.11% of Toronto-Dominion Bank worth $1,962,100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathstone Holdings LLC lifted its stake in Toronto-Dominion Bank by 0.8% in the third quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock worth $1,411,000 after acquiring an additional 184 shares during the period. Commerce Bank bought a new stake in shares of Toronto-Dominion Bank during the 3rd quarter valued at about $207,000. Cerity Partners LLC boosted its stake in shares of Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after purchasing an additional 9,725 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Toronto-Dominion Bank during the third quarter valued at about $1,632,000. Finally, Brown Brothers Harriman & Co. raised its stake in Toronto-Dominion Bank by 20.2% in the third quarter. Brown Brothers Harriman & Co. now owns 3,138 shares of the bank’s stock worth $199,000 after buying an additional 528 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 1.7 %

NYSE TD opened at $60.56 on Tuesday. The stock’s fifty day moving average price is $58.58 and its 200-day moving average price is $57.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a market cap of $106.11 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.81%. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Analysts Set New Price Targets

Several research firms have weighed in on TD. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada decreased their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.