The Toronto-Dominion Bank (TD) Stake Cut by Essex Financial Services Inc.
Essex Financial Services Inc. cut its position in The Toronto-Dominion Bank (NYSE:TD) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,352 shares of the company’s stock after selling 2,853 shares during the period. Essex Financial Services Inc.’s holdings in The Toronto-Dominion Bank were worth $573,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in The Toronto-Dominion Bank by 3.8% in the first quarter. Legal & General Group Plc now owns 7,905,688 shares of the company’s stock worth $342,480,000 after buying an additional 288,896 shares during the period. AMP Capital Investors Ltd increased its position in The Toronto-Dominion Bank by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 694,366 shares of the company’s stock worth $30,207,000 after buying an additional 30,119 shares during the period. American Assets Inc. purchased a new position in The Toronto-Dominion Bank during the first quarter worth about $431,000. Renaissance Technologies LLC increased its position in The Toronto-Dominion Bank by 79.7% in the first quarter. Renaissance Technologies LLC now owns 1,202,300 shares of the company’s stock worth $51,865,000 after buying an additional 533,100 shares during the period. Finally, Mariner Wealth Advisors LLC increased its position in The Toronto-Dominion Bank by 30.2% in the first quarter. Mariner Wealth Advisors LLC now owns 8,987 shares of the company’s stock worth $388,000 after buying an additional 2,085 shares during the period. Hedge funds and other institutional investors own 51.77% of the company’s stock.
The Toronto-Dominion Bank (NYSE:TD) traded up 0.43% during trading on Monday, reaching $44.54. The company’s stock had a trading volume of 1,274,122 shares. The stock has a 50-day moving average of $44.25 and a 200 day moving average of $43.71. The Toronto-Dominion Bank has a one year low of $33.49 and a one year high of $45.98. The firm has a market capitalization of $82.61 billion, a P/E ratio of 13.29 and a beta of 0.95.
The Toronto-Dominion Bank (NYSE:TD) last posted its quarterly earnings results on Thursday, August 25th. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.06. The business had revenue of $8.70 billion for the quarter. The Toronto-Dominion Bank had a return on equity of 13.56% and a net margin of 21.02%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, equities research analysts predict that The Toronto-Dominion Bank will post $3.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.4249 per share. This represents a $1.70 annualized dividend and a yield of 3.82%. The ex-dividend date is Wednesday, October 5th. This is an increase from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The Toronto-Dominion Bank’s payout ratio is presently 49.85%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded The Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, August 30th. TD Securities reaffirmed a “buy” rating and issued a $64.00 target price (up from $61.00) on shares of The Toronto-Dominion Bank in a report on Monday, August 29th. CIBC cut The Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, August 26th. Canaccord Genuity cut The Toronto-Dominion Bank from a “buy” rating to a “hold” rating and set a $59.00 target price on the stock. in a report on Thursday, August 25th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $55.00 target price (up from $51.00) on shares of The Toronto-Dominion Bank in a report on Sunday, August 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.88.
About The Toronto-Dominion Bank
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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