Legal & General Group Plc Has $626.48 Million Holdings in Bank of Nova Scotia (The) $BNS

Legal & General Group Plc raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,483,129 shares of the bank’s stock after purchasing an additional 436,482 shares during the period. Legal & General Group Plc owned 0.69% of Bank of Nova Scotia worth $626,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Bank of Nova Scotia by 55.4% during the 3rd quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock valued at $98,118,000 after purchasing an additional 540,526 shares during the period. Intact Investment Management Inc. raised its position in shares of Bank of Nova Scotia by 50.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,645,842 shares of the bank’s stock valued at $106,435,000 after acquiring an additional 553,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bank of Nova Scotia by 30.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after acquiring an additional 1,772,608 shares during the period. First National Trust Co raised its position in shares of Bank of Nova Scotia by 54.5% in the 3rd quarter. First National Trust Co now owns 44,415 shares of the bank’s stock valued at $2,871,000 after acquiring an additional 15,676 shares during the period. Finally, Canerector Inc. raised its position in shares of Bank of Nova Scotia by 8,899.0% in the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after acquiring an additional 26,697,000 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $79.79 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $98.06 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. The company’s 50 day moving average price is $73.85 and its two-hundred day moving average price is $73.02. Bank of Nova Scotia has a 52 week low of $51.00 and a 52 week high of $80.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. On average, analysts expect that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BNS. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Royal Bank Of Canada increased their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.