Ninepoint Partners LP Cuts Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Ninepoint Partners LP cut its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 11.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,055 shares of the bank’s stock after selling 7,068 shares during the period. Toronto-Dominion Bank accounts for approximately 0.3% of Ninepoint Partners LP’s holdings, making the stock its 17th biggest holding. Ninepoint Partners LP’s holdings in Toronto-Dominion Bank were worth $3,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp increased its position in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after purchasing an additional 218,807 shares in the last quarter. APG Asset Management N.V. lifted its position in Toronto-Dominion Bank by 2.5% during the second quarter. APG Asset Management N.V. now owns 3,849,556 shares of the bank’s stock valued at $197,393,000 after buying an additional 95,542 shares in the last quarter. AXA S.A. grew its stake in Toronto-Dominion Bank by 219.4% during the second quarter. AXA S.A. now owns 1,093,569 shares of the bank’s stock worth $60,103,000 after buying an additional 751,137 shares during the period. Toronto Dominion Bank increased its position in shares of Toronto-Dominion Bank by 6.3% in the second quarter. Toronto Dominion Bank now owns 10,349,040 shares of the bank’s stock worth $568,783,000 after acquiring an additional 611,902 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Toronto-Dominion Bank by 9.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after acquiring an additional 1,206,574 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TD shares. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Up 0.1 %

Shares of Toronto-Dominion Bank stock opened at $63.36 on Friday. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The company has a market capitalization of $110.77 billion, a PE ratio of 14.40, a P/E/G ratio of 1.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $59.77 and a 200-day moving average of $58.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter last year, the firm earned $1.48 EPS. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.67%. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

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.