Family Legacy Inc. Has $1.33 Million Position in The Toronto-Dominion Bank (NYSE:TD)

Family Legacy Inc. lowered its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.5% in the fourth quarter, HoldingsChannel reports. The fund owned 24,516 shares of the bank’s stock after selling 1,430 shares during the period. Family Legacy Inc.’s holdings in Toronto-Dominion Bank were worth $1,328,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC raised its position in shares of Toronto-Dominion Bank by 300.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 12,238 shares of the bank’s stock valued at $663,000 after acquiring an additional 9,183 shares during the period. Beutel Goodman & Co Ltd. raised its position in Toronto-Dominion Bank by 3.8% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after buying an additional 622,736 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Toronto-Dominion Bank by 18.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 950,182 shares of the bank’s stock worth $50,561,000 after acquiring an additional 148,685 shares during the last quarter. Norges Bank acquired a new position in Toronto-Dominion Bank during the 4th quarter worth approximately $992,204,000. Finally, UniSuper Management Pty Ltd grew its stake in shares of Toronto-Dominion Bank by 26.5% during the 4th quarter. UniSuper Management Pty Ltd now owns 575,800 shares of the bank’s stock worth $30,656,000 after acquiring an additional 120,600 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TD has been the subject of several recent research reports. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Royal Bank of Canada cut their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $60.31 on Monday. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a market capitalization of $105.68 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 50-day simple moving average of $58.99 and a 200 day simple moving average of $57.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 85.29%.

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.