CANADA LIFE ASSURANCE Co Has $54.37 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

CANADA LIFE ASSURANCE Co boosted its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 7.1% in the fourth 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 purchasing 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 and hedge funds have also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Bank of Nova Scotia during the 4th quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth approximately $31,000. Allworth Financial LP grew its position in shares of Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets increased 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 worth $47,000 after purchasing an additional 810 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $73,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNS has been the topic of several recent research reports. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada cut 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. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Trading Up 0.7 %

Shares of Bank of Nova Scotia stock opened at $47.46 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The company has a market capitalization of $59.11 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.16 and a beta of 1.02. The firm's 50-day moving average price is $48.35 and its two-hundred day moving average price is $51.59.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors 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 6.25%. 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.

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