Generali Asset Management SPA SGR Invests $6.72 Million in The Toronto-Dominion Bank (NYSE:TD)

Generali Asset Management SPA SGR bought a new position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 126,222 shares of the bank’s stock, valued at approximately $6,720,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc increased its position in shares of Toronto-Dominion Bank by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock worth $882,241,000 after acquiring an additional 59,956 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Toronto-Dominion Bank by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock worth $770,921,000 after acquiring an additional 301,649 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after acquiring an additional 144,427 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Toronto-Dominion Bank by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after acquiring an additional 479,624 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $59.67 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $58.12 and a two-hundred day moving average of $57.61. The company has a market cap of $104.55 billion, a P/E ratio of 17.20, a PEG ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.88%. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TD shares. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank has an average rating of “Hold” and an average price target 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.