BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,571,449 Shares of The Toronto-Dominion Bank (NYSE:TD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 77.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,104,992 shares of the bank's stock after selling 10,571,449 shares during the quarter. Toronto-Dominion Bank makes up 1.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings, making the stock its 17th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.18% of Toronto-Dominion Bank worth $165,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vident Advisory LLC increased its stake in shares of Toronto-Dominion Bank by 5.8% in the fourth quarter. Vident Advisory LLC now owns 4,535 shares of the bank's stock worth $241,000 after acquiring an additional 249 shares during the period. Two Sigma Advisers LP boosted its position in Toronto-Dominion Bank by 370.1% during the fourth quarter. Two Sigma Advisers LP now owns 383,200 shares of the bank's stock worth $20,402,000 after acquiring an additional 301,683 shares during the last quarter. Two Sigma Investments LP grew its holdings in Toronto-Dominion Bank by 14.6% in the 4th quarter. Two Sigma Investments LP now owns 721,312 shares of the bank's stock valued at $38,403,000 after buying an additional 92,129 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Toronto-Dominion Bank by 9.7% in the fourth quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after acquiring an additional 912,401 shares during the last quarter. Finally, Man Group plc increased its position in shares of Toronto-Dominion Bank by 414.7% during the fourth quarter. Man Group plc now owns 323,711 shares of the bank's stock valued at $17,234,000 after acquiring an additional 260,818 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com raised Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Scotiabank started coverage on shares of Toronto-Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned 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 $80.50.

Toronto-Dominion Bank Price Performance

TD stock opened at $64.70 on Wednesday. The stock has a market capitalization of $112.31 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The stock's fifty day simple moving average is $60.96 and its 200-day simple moving average is $57.92. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $65.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 85.59%.

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.

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