Northwestern Mutual Wealth Management Co. Has $2.58 Million Holdings in The Toronto-Dominion Bank (NYSE:TD)

Northwestern Mutual Wealth Management Co. lowered its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 56.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 46,961 shares of the bank’s stock after selling 61,007 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Toronto-Dominion Bank were worth $2,581,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Williams Financial LLC acquired a new position in shares of Toronto-Dominion Bank in the second quarter valued at about $10,454,000. Dixon Mitchell Investment Counsel Inc. raised its position in shares of Toronto-Dominion Bank by 2.7% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after acquiring an additional 37,002 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Toronto-Dominion Bank in the 1st quarter worth approximately $6,454,000. FORA Capital LLC acquired a new position in Toronto-Dominion Bank in the first quarter valued at $4,025,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Toronto-Dominion Bank by 5,032.5% during the 4th quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TD. UBS Group began coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Up 0.7 %

Toronto-Dominion Bank stock opened at $63.71 on Friday. 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 stock has a market cap of $111.39 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The firm’s 50-day simple moving average is $60.31 and its 200 day simple moving average is $58.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion during 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%. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. Research analysts predict that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 67.73%.

Toronto-Dominion Bank Company 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.