I.g. Investment Management Ltd. Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : I.g. Investment Management Ltd. reduced its stake in Bank of Nova Scotia by 3.62% during the most recent quarter end. The investment management company now holds a total of 31,544,848 shares of Bank of Nova Scotia which is valued at $1,527.4 Million after selling 1,185,174 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on May 13, 2016.Bank of Nova Scotia makes up approximately 6.13% of I.g. Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Geode Capital Management added BNS to its portfolio by purchasing 618,715 company shares during the most recent quarter which is valued at $30 Million. Bank of Nova Scotia makes up approx 0.02% of Geode Capital Management’s portfolio.Credit Agricole S A reduced its stake in BNS by selling 88,115 shares or 40.26% in the most recent quarter. The Hedge Fund company now holds 130,746 shares of BNS which is valued at $6.3 Million. Bank of Nova Scotia makes up approx 0.03% of Credit Agricole S A’s portfolio.1832 Asset Management reduced its stake in BNS by selling 169,651 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 13,028,869 shares of BNS which is valued at $630.9 Million. Bank of Nova Scotia makes up approx 2.50% of 1832 Asset Management’s portfolio. Massmutual Trust Co Fsbadv added BNS to its portfolio by purchasing 115 company shares during the most recent quarter which is valued at $5,568.

Bank of Nova Scotia opened for trading at $48.87 and hit $49.73 on the upside on Wednesday, eventually ending the session at $49.67, with a gain of 2.41% or 1.17 points. The heightened volatility saw the trading volume jump to 8,45,319 shares. Company has a market cap of $59,733 M.

On the company’s financial health, Bank of Nova Scotia reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $1.41. The company had revenue of $6365.00 million for the quarter, compared to analysts expectations of $6324.19 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services including retail commercial corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking International Banking Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada through a network of 1190 branches 3869 automated banking machine (ABMs) as well as telephone Internet banking and third-party channels. International Banking includes Scotiabank’s retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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