Our updates keep you on top of your stocks

Article Excerpt

BANK OF NOVA SCOTIA $55.88, is a buy. The bank (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $67.4 billion; TSINetwork Rating: Above Average; Dividend yield: 6.4%; www.scotiabank.com) has agreed to settle charges by U.S. securities regulators that its traders manipulated precious metals markets, including gold, silver, platinum and palladium. As a result, Bank of Nova Scotia will pay fines totalling $127.5 million U.S. and will also strengthen its compliance monitoring. The bank previously set aside funds to cover this settlement, so the fine will not impact its future earnings. Bank of Nova Scotia is a buy. GREAT-WEST LIFECO, $26.38, is still a hold. The insurer (Toronto symbol GWO; shares o/s: 926.3 million; Market cap: $24.3 billion; TSINetwork Rating: Above Average; Divd. yield: 6.6%; www.greatwestlifeco.com) is now selling its wealth management subsidiary GLC Asset Management Group to Mackenzie Financial Corp. for $175 million in cash. (Note—Mackenzie is part of IGM Financial, a recommendation of our Successful Investor newsletter.) Under the terms of the deal, Great-West will also acquire the contracts to manage several…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.