Legal & General Group Plc Has $402.81 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Legal & General Group Plc reduced its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,505,065 shares of the bank's stock after selling 1,922,399 shares during the period. Legal & General Group Plc owned 0.60% of Bank of Nova Scotia worth $402,806,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia during the fourth quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP grew its holdings in Bank of Nova Scotia by 121.1% during 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 period. BNP Paribas Financial Markets increased its stake in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after purchasing an additional 810 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia in the fourth quarter worth $73,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 1.3 %

Shares of Bank of Nova Scotia stock traded up $0.58 during trading on Friday, reaching $46.06. The stock had a trading volume of 2,434,443 shares, compared to its average volume of 1,680,172. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $57.37 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The stock has a fifty day moving average price of $48.65 and a two-hundred day moving average price of $51.76.

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Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 82.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BNS shares. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia has an average rating of "Hold" and an average target price of $81.00.

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.