Jennison Associates LLC Decreases Holdings in TD Ameritrade Holding Corp. (AMTD)
Jennison Associates LLC lessened its holdings in shares of TD Ameritrade Holding Corp. (NASDAQ:AMTD) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,455,122 shares of the financial services provider’s stock after selling 465,344 shares during the period. Jennison Associates LLC’s holdings in TD Ameritrade were worth $76,874,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of TD Ameritrade by 4.5% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 21,270 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 924 shares during the period. SNS Financial Group LLC lifted its holdings in TD Ameritrade by 3.2% in the second quarter. SNS Financial Group LLC now owns 37,685 shares of the financial services provider’s stock valued at $2,064,000 after buying an additional 1,185 shares during the period. First Mercantile Trust Co. lifted its holdings in TD Ameritrade by 38.5% in the second quarter. First Mercantile Trust Co. now owns 4,357 shares of the financial services provider’s stock valued at $239,000 after buying an additional 1,211 shares during the period. Northpointe Capital LLC lifted its holdings in TD Ameritrade by 2.0% in the second quarter. Northpointe Capital LLC now owns 67,676 shares of the financial services provider’s stock valued at $3,707,000 after buying an additional 1,329 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in TD Ameritrade by 3.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 38,451 shares of the financial services provider’s stock valued at $2,106,000 after buying an additional 1,420 shares during the period. Institutional investors own 90.76% of the company’s stock.
In related news, EVP Peter J. Desilva purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was purchased at an average cost of $56.73 per share, with a total value of $283,650.00. Following the completion of the purchase, the executive vice president now owns 24,000 shares in the company, valued at approximately $1,361,520. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.44% of the company’s stock.
TD Ameritrade (NASDAQ:AMTD) last posted its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. TD Ameritrade had a net margin of 27.02% and a return on equity of 24.54%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 42.2% compared to the same quarter last year. On average, equities analysts predict that TD Ameritrade Holding Corp. will post 3.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th will be paid a $0.30 dividend. This is an increase from TD Ameritrade’s previous quarterly dividend of $0.21. This represents a $1.20 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, November 5th. TD Ameritrade’s payout ratio is 35.93%.
AMTD has been the topic of several recent analyst reports. Bank of America dropped their target price on shares of TD Ameritrade from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. BidaskClub upgraded shares of TD Ameritrade from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Wolfe Research initiated coverage on shares of TD Ameritrade in a report on Tuesday, September 25th. They issued an “underperform” rating on the stock. Morgan Stanley upgraded shares of TD Ameritrade from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $61.00 to $65.00 in a report on Wednesday, November 14th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $68.50 target price on shares of TD Ameritrade in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.66.
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TD Ameritrade Profile
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. Its products and services include tdameritrade.com, a Web platform for self-directed retail investors; Trade Architect, a Web-based platform for investors and traders to identify opportunities and stay informed; thinkorswim, a desktop platform for traders; and TD Ameritrade Mobile, which allows on-the-go investors and traders to trade and monitor accounts.
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