The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,014,087 shares of the bank's stock after buying an additional 67,575 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of Bank of Nova Scotia worth $54,365,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $31,000. Allworth Financial LP boosted its stake in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after buying an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Bank of Nova Scotia in the 4th quarter worth approximately $73,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of recent analyst reports. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and an average price target of $81.00.

Bank of Nova Scotia Stock Up 0.2 %

BNS traded up $0.08 on Wednesday, hitting $48.29. The company had a trading volume of 543,242 shares, compared to its average volume of 1,682,199. The stock has a fifty day moving average price of $48.15 and a 200-day moving average price of $51.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The stock has a market capitalization of $60.15 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.14%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.