Aviva PLC Decreases Holdings in TD Ameritrade Holding Corp. (AMTD)
Aviva PLC cut its holdings in shares of TD Ameritrade Holding Corp. (NASDAQ:AMTD) by 5.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 135,906 shares of the financial services provider’s stock after selling 7,796 shares during the quarter. Aviva PLC’s holdings in TD Ameritrade were worth $7,180,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new position in shares of TD Ameritrade during the second quarter worth approximately $115,000. IFP Advisors Inc grew its holdings in shares of TD Ameritrade by 255.4% in the third quarter. IFP Advisors Inc now owns 2,207 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 1,586 shares during the last quarter. Commerce Bank bought a new position in shares of TD Ameritrade in the third quarter worth approximately $210,000. Chesley Taft & Associates LLC bought a new position in shares of TD Ameritrade in the third quarter worth approximately $220,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of TD Ameritrade in the second quarter worth approximately $297,000. 91.23% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on AMTD shares. Credit Suisse Group cut their target price on shares of TD Ameritrade from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, October 30th. Barclays cut their target price on shares of TD Ameritrade from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, October 24th. BidaskClub upgraded shares of TD Ameritrade from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Bank of America cut their target price on shares of TD Ameritrade from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, Morgan Stanley upgraded shares of TD Ameritrade from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $61.00 to $65.00 in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.29.
TD Ameritrade (NASDAQ:AMTD) last released its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. TD Ameritrade had a net margin of 27.02% and a return on equity of 24.54%. The firm’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, analysts predict that TD Ameritrade Holding Corp. will post 3.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $1.20 annualized dividend and a yield of 2.32%. This is a boost from TD Ameritrade’s previous quarterly dividend of $0.21. TD Ameritrade’s payout ratio is 35.93%.
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About TD Ameritrade
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. Its products and services include tdameritrade.com, a Web platform for self-directed retail investors; Trade Architect, a Web-based platform for investors and traders to identify opportunities and stay informed; thinkorswim, a desktop platform for traders; and TD Ameritrade Mobile, which allows on-the-go investors and traders to trade and monitor accounts.
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