Alberta Investment Management Corp Purchases 44,800 Shares of The Bank of Nova Scotia (NYSE:BNS)

Alberta Investment Management Corp boosted its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,126,600 shares of the bank's stock after purchasing an additional 44,800 shares during the quarter. Bank of Nova Scotia comprises approximately 0.8% of Alberta Investment Management Corp's holdings, making the stock its 18th largest holding. Alberta Investment Management Corp owned 0.17% of Bank of Nova Scotia worth $114,137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BNS. Magnus Financial Group LLC raised its position in Bank of Nova Scotia by 4.1% during the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after purchasing an additional 200 shares during the period. Sigma Planning Corp boosted its stake in shares of Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank's stock worth $604,000 after purchasing an additional 210 shares during the period. Signaturefd LLC grew its holdings in Bank of Nova Scotia by 1.2% during the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank's stock valued at $1,006,000 after purchasing an additional 216 shares during the last quarter. Addison Advisors LLC raised its position in Bank of Nova Scotia by 7.3% in the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank's stock worth $183,000 after purchasing an additional 227 shares during the period. Finally, Merit Financial Group LLC lifted its stake in shares of Bank of Nova Scotia by 5.8% during the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock worth $264,000 after acquiring an additional 271 shares during the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Down 1.3 %

NYSE BNS traded down $0.68 during trading on Friday, reaching $50.46. 1,356,403 shares of the company's stock traded hands, compared to its average volume of 1,873,203. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. 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 firm has a market cap of $62.84 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The company's 50 day simple moving average is $52.13 and its two-hundred day simple moving average is $52.19.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia's payout ratio is 68.29%.

Wall Street Analyst Weigh In

BNS has been the topic of several research analyst reports. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Wednesday, December 4th. Finally, TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $72.00.

About Bank of Nova Scotia

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.