The Toronto-Dominion Bank (NYSE:TD) Position Increased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. grew its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,803,807 shares of the bank’s stock after buying an additional 622,736 shares during the quarter. Toronto-Dominion Bank accounts for 4.9% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 2nd largest holding. Beutel Goodman & Co Ltd.’s holdings in Toronto-Dominion Bank were worth $894,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. acquired a new position in Toronto-Dominion Bank in the 4th quarter valued at about $416,000. Cerity Partners LLC grew its holdings in shares of Toronto-Dominion Bank by 57.1% in the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after purchasing an additional 9,725 shares in the last quarter. FMR LLC increased its stake in Toronto-Dominion Bank by 9.9% during the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock worth $414,417,000 after buying an additional 587,947 shares during the period. Vanguard Group Inc. lifted its holdings in Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. Finally, Nicola Wealth Management LTD. grew its stake in shares of Toronto-Dominion Bank by 15.5% in the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after acquiring an additional 68,400 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $60.31 on Friday. The firm’s fifty day simple moving average is $58.99 and its 200-day simple moving average is $57.66. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The stock has a market capitalization of $105.67 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The firm 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. The ex-dividend date is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.83%. Toronto-Dominion Bank’s payout ratio is 85.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TD. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $80.50.

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.