Anson Funds Management LP Reduces Holdings in Toronto-Dominion Bank

Anson Funds Management LP has significantly reduced its stake in The Toronto-Dominion Bank (NYSE:TD) by 75.0% during the third quarter of the year. According to a recent filing with the Securities and Exchange Commission, the firm currently holds 50,000 shares of the bank after selling off 150,000 shares throughout the quarter. As of the latest reporting period, Anson Funds Management LP's stake in Toronto-Dominion Bank is valued at $3,162,000.

In addition to Anson Funds, several institutional investors and hedge funds have recently altered their positions in TD. The Manufacturers Life Insurance Company increased its holdings by 24.9% in the third quarter, now possessing 13,509,261 shares valued at $854,815,000 after acquiring an additional 2,689,532 shares. The Healthcare of Ontario Pension Plan Trust Fund also boosted its stake by 61.1%, now holding 6,011,579 shares valued at $380,118,000, with an additional purchase of 2,279,864 shares during the same period.

Dimensional Fund Advisors LP increased its holdings by 61.7% in the previous quarter, now owning 5,806,974 shares worth $319,151,000 after obtaining 2,215,185 new shares. Quadrature Capital Ltd raised its position in Toronto-Dominion Bank by 175.5%, amassing 2,467,300 shares valued at $156,202,000 with the acquisition of 1,571,700 shares. Meanwhile, 1832 Asset Management L.P. saw a 6.0% rise in its stake, accumulating 25,803,480 shares worth $1,418,159,000 after buying an additional 1,462,794 shares.

A notable fact is that around 52.37% of the company's stock is now owned by institutional investors and hedge funds.

Analyst Ratings

Analysts have recently made various adjustments to their ratings on TD shares. Desjardins has downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating, while Barclays has reduced its rating from "equal weight" to "underweight." The Royal Bank of Canada has also decreased its price target for TD shares from $82.00 to $77.00, maintaining a "sector perform" rating. Furthermore, Scotiabank has downgraded the stock from a "sector outperform" to a "sector perform" rating.

On the other hand, StockNews.com has also lowered the shares' rating from "hold" to "sell." Overall, two analysts rate the stock as a sell, eight assign a hold rating, and one gives it a strong buy rating. As per MarketBeat.com, Toronto-Dominion Bank currently holds a consensus rating of "Hold" with an average price target of $80.50.

Stock Performance and Dividend Information

On Friday, Toronto-Dominion Bank shares opened at $51.96. The bank has a market capitalization of $90.94 billion, with a price-to-earnings (PE) ratio of 14.97. Additionally, it has a price/earnings to growth (PEG) ratio of 1.86, and a beta of 0.82. The stock's 50-day moving average is $57.30, while the 200-day moving average stands at $57.64. The stock has recorded a low of $51.74 and a high of $65.12 over the last year.

In recent news, Toronto-Dominion Bank also announced an increase in its quarterly dividend, which is set to be paid on January 31st. Shareholders on record as of January 10th will receive a dividend of $0.7482, up from the previous amount of $0.74. This change reflects an annualized dividend yield of 5.76%, with a current payout ratio of 87.03%.

Company Overview

The Toronto-Dominion Bank, along with its subsidiaries, offers a range of financial products and services both in Canada and internationally. Its operations are divided into four main segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Conclusion

Overall, Anson Funds Management LP's substantial reduction in its holdings of The Toronto-Dominion Bank reflects a broader trend among institutional investors who are recalibrating their stakes in the bank amid shifting market conditions.

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