Envestnet Asset Management Inc. Cuts Holdings in The Toronto-Dominion Bank (NYSE:TD)

Envestnet Asset Management Inc. lessened its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 35.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,288 shares of the bank's stock after selling 31,477 shares during the period. Envestnet Asset Management Inc.'s holdings in Toronto-Dominion Bank were worth $3,050,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at about $992,204,000. Geode Capital Management LLC grew its stake in shares of Toronto-Dominion Bank by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock worth $569,878,000 after buying an additional 2,564,648 shares during the last quarter. Vanguard Group Inc. increased its holdings in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares in the last quarter. Guardian Partners Inc. bought a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth about $38,332,000. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Toronto-Dominion Bank by 3.8% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank's stock valued at $894,169,000 after acquiring an additional 622,736 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Performance

NYSE:TD traded up $0.56 during mid-day trading on Tuesday, hitting $63.30. 3,024,270 shares of the company traded hands, compared to its average volume of 2,487,597. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The stock's fifty day moving average price is $59.49 and its 200-day moving average price is $57.09. The firm has a market cap of $109.87 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is 85.59%.

Analysts Set New Price Targets

TD has been the subject of a number of analyst reports. Bank of America raised shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. StockNews.com lowered Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Finally, Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $80.50.

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.