Advisors Management Group Inc. ADV Sells 10,451 Shares of Bank of Nova Scotia (The) $BNS

Advisors Management Group Inc. ADV lessened its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 34.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,699 shares of the bank’s stock after selling 10,451 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Bank of Nova Scotia were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Bank of Nova Scotia during the fourth quarter worth $1,368,456,000. FIL Ltd raised its stake in shares of Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after buying an additional 5,461,052 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bank of Nova Scotia by 3,120.1% during the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock worth $262,284,000 after acquiring an additional 3,445,856 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Bank of Nova Scotia during the 3rd quarter worth about $138,394,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $121,032,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $87.68 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day moving average price of $82.10 and a two-hundred day moving average price of $76.51. Bank of Nova Scotia has a 52-week low of $54.31 and a 52-week high of $87.97. The firm has a market capitalization of $107.41 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.07 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on BNS shares. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.00.

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.