Principal Financial Group Inc. Sells 1,900 Shares of The Toronto-Dominion Bank (NYSE:TD)

Principal Financial Group Inc. lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,900 shares of the bank’s stock after selling 1,900 shares during the quarter. Principal Financial Group Inc.’s holdings in Toronto-Dominion Bank were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Radnor Capital Management LLC purchased a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $1,047,000. Crestwood Advisors Group LLC grew its stake in Toronto-Dominion Bank by 7.1% in the third quarter. Crestwood Advisors Group LLC now owns 3,898 shares of the bank’s stock worth $247,000 after purchasing an additional 258 shares in the last quarter. PDS Planning Inc increased its holdings in Toronto-Dominion Bank by 7.5% during the 3rd quarter. PDS Planning Inc now owns 6,357 shares of the bank’s stock worth $402,000 after purchasing an additional 441 shares during the period. Old North State Wealth Management LLC purchased a new stake in shares of Toronto-Dominion Bank in the 3rd quarter worth $210,000. Finally, Van ECK Associates Corp grew its position in shares of Toronto-Dominion Bank by 25.2% during the 3rd quarter. Van ECK Associates Corp now owns 465,365 shares of the bank’s stock worth $29,439,000 after buying an additional 93,716 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TD shares. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Performance

TD stock opened at $56.15 on Friday. The firm has a 50-day simple moving average of $58.90 and a two-hundred day simple moving average of $57.71. 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 one year low of $53.52 and a one year high of $65.12. The firm has a market cap of $98.28 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same period last year, the firm earned $1.48 earnings per share. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.76 EPS for the current fiscal year.

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.