Legal & General Group Plc Cuts Position in The Toronto-Dominion Bank (NYSE:TD)

Legal & General Group Plc cut its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,121,117 shares of the bank’s stock after selling 136,690 shares during the period. Legal & General Group Plc owned approximately 0.75% of Toronto-Dominion Bank worth $721,104,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its position in shares of Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. Mackenzie Financial Corp grew its stake in shares of Toronto-Dominion Bank by 0.8% during the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after buying an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Toronto-Dominion Bank by 9.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after acquiring an additional 1,206,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Toronto-Dominion Bank by 3.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock valued at $653,194,000 after purchasing an additional 358,283 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Up 0.1 %

Shares of TD opened at $63.36 on Friday. The company’s 50-day simple moving average is $59.77 and its 200-day simple moving average is $58.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The stock has a market capitalization of $110.77 billion, a PE ratio of 14.40, a P/E/G ratio of 1.86 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. Analysts forecast that The Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

Analyst Ratings Changes

TD has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Profile

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.