TD Asset Management Inc. Has $1.02 Billion Position in The Bank of Nova Scotia (NYSE:BNS)

TD Asset Management Inc. raised its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,966,078 shares of the bank’s stock after buying an additional 308,837 shares during the quarter. Bank of Nova Scotia accounts for about 0.9% of TD Asset Management Inc.’s holdings, making the stock its 22nd biggest position. TD Asset Management Inc. owned approximately 1.52% of Bank of Nova Scotia worth $1,017,933,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after acquiring an additional 660,097 shares in the last quarter. Citigroup Inc. raised its stake in shares of Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after purchasing an additional 63,528 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after buying an additional 524,496 shares during the last quarter. Galibier Capital Management Ltd. grew its stake in shares of Bank of Nova Scotia by 38,283.3% in the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank’s stock valued at $25,586,000 after buying an additional 475,479 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Bank of Nova Scotia by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank’s stock worth $58,839,000 after buying an additional 77,820 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.7 %

Bank of Nova Scotia stock opened at $48.34 on Tuesday. 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 Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The firm has a fifty day moving average price of $50.10 and a two-hundred day moving average price of $52.41. The firm has a market cap of $60.21 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 82.77%.

Analysts Set New Price Targets

Several analysts have commented on BNS shares. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada decreased 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, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $81.00.

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.