Aviva PLC Trims Stake in The Bank of Nova Scotia (NYSE:BNS)

Aviva PLC lessened its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,296,998 shares of the bank’s stock after selling 29,062 shares during the period. Aviva PLC owned about 0.10% of Bank of Nova Scotia worth $69,508,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth about $1,165,000. Atlas Capital Advisors Inc. purchased a new stake in Bank of Nova Scotia in the 4th quarter valued at about $83,000. Massachusetts Financial Services Co. MA grew its stake in Bank of Nova Scotia by 0.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 64,177 shares of the bank’s stock worth $3,448,000 after acquiring an additional 328 shares in the last quarter. May Hill Capital LLC purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth approximately $357,000. Finally, Geode Capital Management LLC raised its stake in shares of Bank of Nova Scotia by 31.8% during the fourth quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank’s stock valued at $406,103,000 after acquiring an additional 1,792,700 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 3.0 %

NYSE:BNS opened at $46.92 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $58.44 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 1.02. The company’s 50-day simple moving average is $49.45 and its 200-day simple moving average is $52.16. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 dividend yield of 6.32%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is presently 82.77%.

Analyst Ratings Changes

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

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.