Great West Life Assurance Company Raised Its Bank N S Halifax (BNS) Position by $5.66 Million; Market Value Declined

September 30, 2018 - By Victoria Pittman

The Bank of Nova Scotia (NYSE:BNS) Logo

Great West Life Assurance Company increased its stake in Bank N S Halifax (BNS) by 0.73% based on its latest 2018Q2 regulatory filing with the SEC. Great West Life Assurance Company bought 101,106 shares as the company’s stock declined 1.54% while stock markets rallied. The institutional investor held 13.98M shares of the major banks company at the end of 2018Q2, valued at $794.08 million, up from 13.88M at the end of the previous reported quarter. Great West Life Assurance Company who had been investing in Bank N S Halifax for a number of months, seems to be bullish on the $73.35B market cap company. The stock increased 0.08% or $0.05 during the last trading session, reaching $59.63. About 818,374 shares traded or 19.06% up from the average. The Bank of Nova Scotia (NYSE:BNS) has declined 8.86% since September 30, 2017 and is downtrending. It has underperformed by 24.48% the S&P500.

Great West Life Assurance Company, which manages about $42.53B US Long portfolio, decreased its stake in Dominion Energy Inc (NYSE:D) by 64,044 shares to 605,570 shares, valued at $41.30M in 2018Q2, according to the filing. It also reduced its holding in General Dynamics Corp (NYSE:GD) by 114,746 shares in the quarter, leaving it with 201,947 shares, and cut its stake in Chemed Corp New (NYSE:CHE).

More notable recent The Bank of Nova Scotia (NYSE:BNS) news were published by: Fool.ca which released: “2 Dividend-Growth Stocks to Buy and Hold in Your TFSA” on September 16, 2018, also Fool.ca with their article: “CIBC (TSX:CM) vs. Bank of Nova Scotia (TSX:BNS): Which Is the Better Bank for Your Buck?” published on September 29, 2018, Fool.ca published: “Bank of Nova Scotia (TSX:BNS) Is Canada’s Best Bank for Growth” on September 19, 2018. More interesting news about The Bank of Nova Scotia (NYSE:BNS) were released by: Nasdaq.com and their article: “New Research Coverage Highlights Randgold Resources, California Water Service Group Holding, B&G Foods …” published on September 27, 2018 as well as Fool.ca‘s news article titled: “Could a Collapse in Trade Talks Hurt Bank Stocks in October?” with publication date: September 26, 2018.

The Bank of Nova Scotia (NYSE:BNS) Ratings Coverage

Among 2 analysts covering Bank of Nova Scotia (NYSE:BNS), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Bank of Nova Scotia had 2 analyst reports since June 5, 2018 according to SRatingsIntel. The stock of The Bank of Nova Scotia (NYSE:BNS) earned “Neutral” rating by Bank of America on Tuesday, June 5. Canaccord Genuity downgraded The Bank of Nova Scotia (NYSE:BNS) on Wednesday, August 29 to “Hold” rating.

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