The Toronto-Dominion Bank (NYSE:TD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,642,719 shares of the bank’s stock after selling 1,866,542 shares during the period. The Manufacturers Life Insurance Company owned 0.67% of Toronto-Dominion Bank worth $620,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Toronto-Dominion Bank during the 4th quarter valued at about $992,204,000. FIL Ltd grew its position in shares of Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock valued at $2,075,819,000 after purchasing an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock valued at $569,878,000 after purchasing an additional 2,564,648 shares during the last quarter. Vanguard Group Inc. lifted its position in Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in Toronto-Dominion Bank in the 4th quarter valued at $38,332,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Trading Down 0.1 %

Shares of TD stock opened at $62.13 on Monday. The firm has a market capitalization of $107.85 billion, a PE ratio of 17.90, a P/E/G ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The business’s fifty day moving average price is $59.44 and its 200 day moving average price is $57.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 85.59%.

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.