Northwestern Mutual Wealth Management Co. Sells 61,007 Shares of The Toronto-Dominion Bank (NYSE:TD)

Northwestern Mutual Wealth Management Co. trimmed its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 56.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,961 shares of the bank's stock after selling 61,007 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Toronto-Dominion Bank were worth $2,581,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TD. Belpointe Asset Management LLC raised its position in Toronto-Dominion Bank by 12.8% during the fourth quarter. Belpointe Asset Management LLC now owns 4,532 shares of the bank's stock valued at $293,000 after buying an additional 516 shares during the period. CenterBook Partners LP raised its position in Toronto-Dominion Bank by 292.5% during the fourth quarter. CenterBook Partners LP now owns 37,977 shares of the bank's stock valued at $2,454,000 after buying an additional 28,302 shares during the period. Waterloo Capital L.P. acquired a new position in Toronto-Dominion Bank during the fourth quarter valued at $526,000. Seven Eight Capital LP acquired a new position in Toronto-Dominion Bank during the fourth quarter valued at $939,000. Finally, Ossiam increased its position in Toronto-Dominion Bank by 32.7% in the 4th quarter. Ossiam now owns 148,532 shares of the bank's stock worth $9,645,000 after purchasing an additional 36,640 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Toronto-Dominion Bank Stock Up 0.7 %

Shares of NYSE TD traded up $0.44 during mid-day trading on Friday, reaching $63.71. 993,679 shares of the company traded hands, compared to its average volume of 2,194,773. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $111.39 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The company's fifty day moving average is $60.31 and its two-hundred day moving average is $58.11. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, analysts expect that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a dividend of $0.739 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.64%. Toronto-Dominion Bank's payout ratio is 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.