The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp cut its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,497,998 shares of the bank’s stock after selling 170,721 shares during the period. Toronto-Dominion Bank accounts for approximately 1.6% of Alberta Investment Management Corp’s holdings, making the stock its 5th biggest position. Alberta Investment Management Corp’s holdings in Toronto-Dominion Bank were worth $239,349,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of Toronto-Dominion Bank by 57.1% in the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after purchasing an additional 9,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Toronto-Dominion Bank by 1.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after acquiring an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after acquiring an additional 2,279,864 shares during the period. Galibier Capital Management Ltd. lifted its position in Toronto-Dominion Bank by 24.6% during the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock worth $38,527,000 after acquiring an additional 119,978 shares during the period. Finally, Forsta AP Fonden lifted its position in Toronto-Dominion Bank by 3.2% during the 3rd quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after acquiring an additional 14,500 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TD shares. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Royal Bank of Canada decreased their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $59.96 on Wednesday. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The company has a market capitalization of $104.95 billion, a P/E ratio of 17.28, a PEG ratio of 1.92 and a beta of 0.84. The business has a 50 day moving average price of $55.63 and a 200 day moving average price of $57.47. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is 84.15%.

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.