Wellington Management Group LLP Sells 173,830 Shares of The Bank of Nova Scotia (NYSE:BNS)

Wellington Management Group LLP cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,173,374 shares of the bank's stock after selling 173,830 shares during the quarter. Wellington Management Group LLP owned 0.17% of Bank of Nova Scotia worth $116,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its stake in Bank of Nova Scotia by 2.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 222,516 shares of the bank's stock worth $11,937,000 after acquiring an additional 5,656 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Bank of Nova Scotia by 18.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,368 shares of the bank's stock worth $122,000 after purchasing an additional 367 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Bank of Nova Scotia by 100.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,646 shares of the bank's stock worth $626,000 after purchasing an additional 5,825 shares during the period. Pictet Asset Management Holding SA raised its stake in Bank of Nova Scotia by 18.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 684,568 shares of the bank's stock valued at $36,741,000 after purchasing an additional 106,031 shares in the last quarter. Finally, Norges Bank bought a new stake in Bank of Nova Scotia during the fourth quarter worth about $690,746,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada reduced their price objective on 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. Finally, Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Trading Up 2.7 %

Shares of BNS stock traded up $1.20 during mid-day trading on Tuesday, reaching $45.76. 564,504 shares of the stock traded hands, compared to its average volume of 2,018,560. The company has a market cap of $57.00 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. 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 stock's fifty day simple moving average is $49.30 and its two-hundred day simple moving average is $52.10. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business 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. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 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.