Aviva PLC Sells 29,062 Shares of The Bank of Nova Scotia (NYSE:BNS)

Aviva PLC cut its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,296,998 shares of the bank's stock after selling 29,062 shares during the period. Aviva PLC owned 0.10% of Bank of Nova Scotia worth $69,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Bank of Nova Scotia during the 4th quarter worth about $1,165,000. Atlas Capital Advisors Inc. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at $83,000. Massachusetts Financial Services Co. MA lifted its position in shares of Bank of Nova Scotia by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 64,177 shares of the bank's stock valued at $3,448,000 after acquiring an additional 328 shares during the period. May Hill Capital LLC bought a new position in Bank of Nova Scotia during the fourth quarter worth $357,000. Finally, Geode Capital Management LLC boosted its position in shares of Bank of Nova Scotia by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock worth $406,103,000 after purchasing an additional 1,792,700 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has a consensus rating of "Hold" and an average price target of $81.00.

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Bank of Nova Scotia Stock Performance

Shares of NYSE BNS traded up $0.49 during midday trading on Friday, reaching $45.97. The company's stock had a trading volume of 584,788 shares, compared to its average volume of 1,688,100. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $57.26 billion, a P/E ratio of 10.64, a PEG ratio of 1.16 and a beta of 1.02. The firm has a 50 day moving average price of $48.73 and a 200-day moving average price of $51.83. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 6.45%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Bank of Nova Scotia Company 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.