AGF Management Ltd. Sells 101,523 Shares of The Toronto-Dominion Bank (NYSE:TD)

AGF Management Ltd. lowered its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,996,829 shares of the bank’s stock after selling 101,523 shares during the period. Toronto-Dominion Bank makes up approximately 1.3% of AGF Management Ltd.’s portfolio, making the stock its 14th biggest holding. AGF Management Ltd.’s holdings in Toronto-Dominion Bank were worth $266,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TD. CIBC Asset Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock valued at $882,241,000 after buying an additional 59,956 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after buying an additional 2,689,532 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Toronto-Dominion Bank by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock worth $770,921,000 after buying an additional 301,649 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Toronto-Dominion Bank by 1.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after purchasing an additional 144,427 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Toronto-Dominion Bank by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after buying an additional 479,624 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 1.2 %

Toronto-Dominion Bank stock opened at $58.85 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market cap of $103.11 billion, a PE ratio of 16.96, a P/E/G ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The stock’s 50 day simple moving average is $57.53 and its two-hundred day simple moving average is $57.64.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.95%. Toronto-Dominion Bank’s payout ratio is 85.29%.

Analyst Ratings Changes

TD has been the topic of a number of recent analyst reports. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Royal Bank of Canada reduced their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $80.50.

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.