Sumitomo Life Insurance Co. Sells 667 Shares of The Toronto-Dominion Bank (NYSE:TD)

Sumitomo Life Insurance Co. lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,012 shares of the bank’s stock after selling 667 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Toronto-Dominion Bank were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC boosted its stake in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after purchasing an additional 249 shares during the period. Versant Capital Management Inc boosted its position in Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after buying an additional 200 shares during the period. Union Bancaire Privee UBP SA bought a new position in Toronto-Dominion Bank in the 4th quarter worth about $58,000. Morse Asset Management Inc purchased a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $63,000. Finally, Eastern Bank bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

TD opened at $57.41 on Thursday. The firm has a market capitalization of $100.49 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.82 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. The business’s 50-day moving average is $54.62 and its two-hundred day moving average is $57.41. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be given a $0.7482 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.21%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is presently 84.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently 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.