Envestnet Asset Management Inc. Sells 31,477 Shares of The Toronto-Dominion Bank (NYSE:TD)

Envestnet Asset Management Inc. cut its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 35.5% in the 4th quarter, according to the company in 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 quarter. Envestnet Asset Management Inc.'s holdings in Toronto-Dominion Bank were worth $3,050,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Toronto-Dominion Bank by 1.1% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 591,470 shares of the bank's stock worth $31,474,000 after purchasing an additional 6,312 shares during the period. Aviva PLC grew its stake in shares of Toronto-Dominion Bank by 11.4% during the fourth quarter. Aviva PLC now owns 1,053,329 shares of the bank's stock valued at $55,967,000 after buying an additional 108,136 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $1,686,000. World Investment Advisors boosted its position in Toronto-Dominion Bank by 7.9% during the 4th quarter. World Investment Advisors now owns 4,526 shares of the bank's stock valued at $241,000 after buying an additional 331 shares during the period. Finally, Te Ahumairangi Investment Management Ltd grew its stake in shares of Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after purchasing an additional 11,100 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Toronto-Dominion Bank Stock Up 0.1 %

Shares of TD traded up $0.04 on Thursday, hitting $63.82. 278,053 shares of the stock traded hands, compared to its average volume of 2,479,578. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The company has a market capitalization of $110.78 billion, a PE ratio of 18.40, a P/E/G ratio of 1.95 and a beta of 0.73. The business has a 50 day simple moving average of $59.63 and a 200 day simple moving average of $57.17.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, April 10th. Toronto-Dominion Bank's payout ratio is presently 85.59%.

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.