The Toronto-Dominion Bank (NYSE:TD) is Alberta Investment Management Corp’s 5th Largest Position

Alberta Investment Management Corp cut its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,497,998 shares of the bank’s stock after selling 170,721 shares during the quarter. Toronto-Dominion Bank accounts for 1.6% of Alberta Investment Management Corp’s investment portfolio, making the stock its 5th largest position. Alberta Investment Management Corp owned about 0.26% of Toronto-Dominion Bank worth $239,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Toronto-Dominion Bank by 57.1% in the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after acquiring an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 acquiring an additional 144,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after acquiring an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. raised its position in Toronto-Dominion Bank by 24.6% in the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after purchasing an additional 119,978 shares during the period. Finally, Forsta AP Fonden raised its position in Toronto-Dominion Bank by 3.2% in the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after purchasing an additional 14,500 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TD has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada reduced their target price on 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. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $59.96 on Wednesday. The stock’s 50-day moving average is $55.63 and its two-hundred day moving average is $57.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The company has a market cap of $104.95 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 84.15%.

Toronto-Dominion Bank Company 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.