The Toronto-Dominion Bank (NYSE:TD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,642,719 shares of the bank's stock after selling 1,866,542 shares during the period. The Manufacturers Life Insurance Company owned 0.67% of Toronto-Dominion Bank worth $620,683,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Morse Asset Management Inc bought a new position in Toronto-Dominion Bank in the 3rd quarter valued at about $63,000. Passumpsic Savings Bank boosted its stake in Toronto-Dominion Bank by 2.6% in the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank's stock worth $476,000 after purchasing an additional 194 shares during the period. Tudor Financial Inc. bought a new position in shares of Toronto-Dominion Bank in the third quarter worth $268,000. World Investment Advisors LLC purchased a new position in Toronto-Dominion Bank in the 3rd quarter worth approximately $265,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter valued at about $247,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded up $0.80 on Friday, hitting $63.94. The company's stock had a trading volume of 1,352,976 shares, compared to its average volume of 2,478,874. 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 company has a market capitalization of $110.99 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The firm has a fifty day moving average price of $59.70 and a 200-day moving average price of $57.22. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.55%. Toronto-Dominion Bank's payout ratio is presently 85.59%.

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.