Principal Financial Group Inc. Sells 1,900 Shares of The Toronto-Dominion Bank (NYSE:TD)

Principal Financial Group Inc. decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,900 shares of the bank’s stock after selling 1,900 shares during the period. Principal Financial Group Inc.’s holdings in Toronto-Dominion Bank were worth $2,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TD. Foster & Motley Inc. lifted its stake in Toronto-Dominion Bank by 9.5% in the second quarter. Foster & Motley Inc. now owns 29,622 shares of the bank’s stock worth $1,628,000 after acquiring an additional 2,574 shares during the period. Candriam S.C.A. grew its position in Toronto-Dominion Bank by 17.1% during the second quarter. Candriam S.C.A. now owns 468,740 shares of the bank’s stock valued at $25,759,000 after buying an additional 68,314 shares during the period. Letko Brosseau & Associates Inc. grew its position in shares of Toronto-Dominion Bank by 5.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 3,350,204 shares of the bank’s stock valued at $184,116,000 after acquiring an additional 174,845 shares during the period. Acadian Asset Management LLC increased its stake in shares of Toronto-Dominion Bank by 67.3% in the 2nd quarter. Acadian Asset Management LLC now owns 209,006 shares of the bank’s stock valued at $11,482,000 after purchasing an additional 84,106 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Toronto-Dominion Bank in the 2nd quarter worth about $305,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of TD opened at $53.81 on Friday. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $65.12. The company’s fifty day moving average is $54.72 and its two-hundred day moving average is $57.29. The stock has a market capitalization of $94.18 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.03.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.7482 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a yield of 5.56%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is presently 89.34%.

Analysts Set New Price Targets

TD has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Royal Bank of Canada reduced their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Finally, Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.