Zacks Investment Research downgraded shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) from a strong-buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past six months. Estimates have remained stable lately ahead of its third-quarter results. Also, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, the company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first two months of the current quarter. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging.”

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of TD Ameritrade Holding Corporation from a buy rating to a hold rating in a research note on Friday, August 4th. Nomura decreased their target price on shares of TD Ameritrade Holding Corporation from $50.00 to $49.00 and set a buy rating for the company in a research note on Thursday, July 13th. Instinet reiterated a buy rating and set a $49.00 target price (down from $50.00) on shares of TD Ameritrade Holding Corporation in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a hold rating and set a $46.00 target price on shares of TD Ameritrade Holding Corporation in a research note on Friday, October 6th. Finally, Rosenblatt Securities began coverage on shares of TD Ameritrade Holding Corporation in a research note on Thursday, July 13th. They set a buy rating and a $50.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $48.64.

Shares of TD Ameritrade Holding Corporation (AMTD) traded up 1.86% on Tuesday, hitting $48.27. The stock had a trading volume of 2,011,813 shares. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 30.17 and a beta of 1.55. The company has a 50-day moving average of $46.52 and a 200 day moving average of $42.48. TD Ameritrade Holding Corporation has a 52 week low of $33.26 and a 52 week high of $50.72.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. TD Ameritrade Holding Corporation had a net margin of 24.01% and a return on equity of 16.09%. The company had revenue of $931.00 million during the quarter, compared to analyst estimates of $897.98 million. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts predict that TD Ameritrade Holding Corporation will post $1.71 EPS for the current year.

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In other news, Director Joseph H. Moglia sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the completion of the sale, the director now owns 155,000 shares of the company’s stock, valued at approximately $6,922,300. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Luxembourg International Ho Td acquired 11,074,197 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were acquired at an average cost of $36.12 per share, with a total value of $399,999,995.64. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in shares of TD Ameritrade Holding Corporation by 3.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 457,856 shares of the financial services provider’s stock valued at $17,793,000 after acquiring an additional 13,541 shares during the period. BlackRock Inc. grew its position in shares of TD Ameritrade Holding Corporation by 1,374.1% during the 1st quarter. BlackRock Inc. now owns 13,534,046 shares of the financial services provider’s stock valued at $525,933,000 after acquiring an additional 12,615,921 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in shares of TD Ameritrade Holding Corporation during the 2nd quarter valued at $1,459,000. Principal Financial Group Inc. grew its position in shares of TD Ameritrade Holding Corporation by 71.7% during the 1st quarter. Principal Financial Group Inc. now owns 79,442 shares of the financial services provider’s stock valued at $3,087,000 after acquiring an additional 33,172 shares during the period. Finally, Creative Planning grew its position in shares of TD Ameritrade Holding Corporation by 2.5% during the 2nd quarter. Creative Planning now owns 1,156,600 shares of the financial services provider’s stock valued at $49,722,000 after acquiring an additional 28,235 shares during the period. 93.53% of the stock is owned by hedge funds and other institutional investors.

About TD Ameritrade Holding Corporation

TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.

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