Principal Financial Group Inc. Sells 12,600 Shares of The Toronto-Dominion Bank (NYSE:TD)

Principal Financial Group Inc. trimmed its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,200 shares of the bank’s stock after selling 12,600 shares during the quarter. Principal Financial Group Inc.’s holdings in Toronto-Dominion Bank were worth $2,791,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TD. Mather Group LLC. purchased a new position in Toronto-Dominion Bank in the 1st quarter valued at approximately $29,000. Bank of New Hampshire purchased a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at about $32,000. LifeSteps Financial Inc. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter valued at about $30,000. Avior Wealth Management LLC lifted its position in Toronto-Dominion Bank by 92.9% during the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the period. Finally, Optiver Holding B.V. purchased a new stake in Toronto-Dominion Bank in the fourth quarter worth about $39,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

TD has been the topic of a number of analyst reports. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. BMO Capital Markets cut their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research note on Tuesday. They issued a “neutral” rating on the stock. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $88.00.

Toronto-Dominion Bank Trading Down 0.5 %

Toronto-Dominion Bank stock traded down $0.26 during mid-day trading on Friday, hitting $55.44. The company’s stock had a trading volume of 693,988 shares, compared to its average volume of 2,867,420. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average of $55.80 and a 200-day moving average of $58.80. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $66.15. The stock has a market cap of $96.87 billion, a PE ratio of 12.66, a P/E/G ratio of 1.53 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. On average, research analysts anticipate that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.34%. Toronto-Dominion Bank’s payout ratio is 68.64%.

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.