Toronto-Dominion Bank (NYSE:TD) Stock Holdings Decreased by TD Asset Management Inc.
TD Asset Management Inc. trimmed its holdings in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,822,309 shares of the bank’s stock after selling 33,334 shares during the quarter. Toronto-Dominion Bank makes up about 4.3% of TD Asset Management Inc.’s portfolio, making the stock its 3rd biggest position. TD Asset Management Inc. owned 2.67% of Toronto-Dominion Bank worth $2,858,911,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank increased its holdings in Toronto-Dominion Bank by 48.9% during the 1st quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock worth $892,223,000 after purchasing an additional 5,402,536 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Toronto-Dominion Bank during the 1st quarter worth $328,829,000. CIBC Asset Management Inc increased its holdings in Toronto-Dominion Bank by 13.3% during the 1st quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after purchasing an additional 2,517,475 shares during the period. Intact Investment Management Inc. increased its holdings in Toronto-Dominion Bank by 62.0% during the 1st quarter. Intact Investment Management Inc. now owns 1,991,895 shares of the bank’s stock worth $144,452,000 after purchasing an additional 762,490 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Toronto-Dominion Bank by 5.1% during the 1st quarter. Acadian Asset Management LLC now owns 10,015,471 shares of the bank’s stock worth $543,678,000 after purchasing an additional 486,039 shares during the period. Hedge funds and other institutional investors own 48.12% of the company’s stock.
NYSE TD traded up $0.49 during midday trading on Tuesday, hitting $56.32. 224,976 shares of the company traded hands, compared to its average volume of 1,040,053. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $103.36 billion, a P/E ratio of 11.23, a PEG ratio of 1.79 and a beta of 1.04. The firm has a 50-day simple moving average of $58.18. Toronto-Dominion Bank has a 52 week low of $47.73 and a 52 week high of $62.00.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a $0.5511 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.91%. Toronto-Dominion Bank’s payout ratio is 44.93%.
Several research analysts have commented on the company. National Bank Financial downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 23rd. Canaccord Genuity restated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 price objective on the stock in a report on Tuesday, June 11th. Zacks Investment Research raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Friday. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $73.50.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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