Principal Financial Group Inc. Has $2.79 Million Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Principal Financial Group Inc. reduced its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 21.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.

Several other institutional investors also recently modified their holdings of TD. Advisors Asset Management Inc. lifted its holdings in shares of Toronto-Dominion Bank by 19.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,944 shares of the bank’s stock valued at $539,000 after purchasing an additional 1,475 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Toronto-Dominion Bank by 3.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 21,846 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 666 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Toronto-Dominion Bank by 13.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 4,016 shares of the bank’s stock valued at $242,000 after purchasing an additional 461 shares in the last quarter. Creative Planning lifted its stake in Toronto-Dominion Bank by 70.5% in the 3rd quarter. Creative Planning now owns 680,539 shares of the bank’s stock valued at $41,009,000 after acquiring an additional 281,486 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Toronto-Dominion Bank by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 7,594,720 shares of the bank’s stock valued at $457,658,000 after acquiring an additional 167,796 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BMO Capital Markets cut their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. UBS Group initiated coverage on Toronto-Dominion Bank in a research note on Tuesday. They set a “neutral” rating on the stock. National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. Finally, Barclays initiated coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded down $0.26 on Friday, hitting $55.44. 693,988 shares of the company’s stock were exchanged, compared to its average volume of 2,867,420. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $96.87 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $66.15. The company has a 50 day moving average of $55.80 and a 200 day moving average of $58.80.

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

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.34%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 68.64%.

Toronto-Dominion Bank 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.