The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,684 shares of the bank’s stock after selling 20,073 shares during the period. Envestnet Asset Management Inc.’s holdings in Toronto-Dominion Bank were worth $14,492,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. increased its holdings in Toronto-Dominion Bank by 2.7% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock valued at $83,881,000 after purchasing an additional 37,002 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Toronto-Dominion Bank in the 1st quarter valued at $6,454,000. FORA Capital LLC acquired a new stake in Toronto-Dominion Bank in the 1st quarter valued at $4,025,000. V Square Quantitative Management LLC increased its holdings in Toronto-Dominion Bank by 5,032.5% in the 4th quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares in the last quarter. Finally, Ossiam increased its holdings in Toronto-Dominion Bank by 32.7% in the 4th quarter. Ossiam now owns 148,532 shares of the bank’s stock valued at $9,645,000 after purchasing an additional 36,640 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Down 0.1 %

Shares of Toronto-Dominion Bank stock opened at $63.79 on Wednesday. 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 Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The business has a 50-day moving average of $59.46 and a 200-day moving average of $57.92. The company has a market capitalization of $111.46 billion, a PE ratio of 14.50, a P/E/G ratio of 1.84 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter last year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. 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. Stockholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.63%. Toronto-Dominion Bank’s payout ratio is 68.64%.

Wall Street Analyst Weigh In

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

About Toronto-Dominion Bank

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.