Legal & General Group Plc Sells 3,148,543 Shares of The Toronto-Dominion Bank (NYSE:TD)

Legal & General Group Plc decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,022,178 shares of the bank’s stock after selling 3,148,543 shares during the quarter. Legal & General Group Plc owned about 0.57% of Toronto-Dominion Bank worth $533,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TD. Asahi Life Asset Management CO. LTD. bought a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $416,000. Vanguard Group Inc. increased its holdings in shares of Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Toronto-Dominion Bank by 3.4% in the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank’s stock worth $384,042,000 after purchasing an additional 236,037 shares in the last quarter. Nicola Wealth Management LTD. grew its position in Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock valued at $27,153,000 after purchasing an additional 68,400 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank’s stock worth $3,383,000 after buying an additional 11,100 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Down 2.3 %

TD stock opened at $55.74 on Tuesday. The business’s 50-day moving average price is $59.13 and its 200-day moving average price is $57.43. The stock has a market cap of $97.68 billion, a P/E ratio of 16.06, a PEG ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 5.22%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TD shares. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.50.

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.