Man Group plc Increases Stock Position in TELUS Co. (NYSE:TU)

Man Group plc boosted its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 68.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,099,097 shares of the Wireless communications provider's stock after buying an additional 850,876 shares during the period. Man Group plc owned approximately 0.14% of TELUS worth $28,463,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after purchasing an additional 129,934 shares in the last quarter. Avanza Fonder AB bought a new stake in TELUS during the fourth quarter worth $412,000. Nexus Investment Management ULC lifted its stake in TELUS by 1.8% in the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider's stock valued at $30,103,000 after acquiring an additional 38,450 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in TELUS by 3.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider's stock valued at $1,185,000 after acquiring an additional 2,840 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after acquiring an additional 4,548 shares during the period. Institutional investors own 49.40% of the company's stock.

TELUS Stock Up 0.2%

Shares of TELUS stock traded up $0.04 on Wednesday, hitting $15.99. The company had a trading volume of 695,961 shares, compared to its average volume of 2,902,629. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 5.18 and a beta of 0.73. The stock has a 50 day moving average of $14.84 and a 200-day moving average of $14.82. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.48%. This is an increase from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is presently 201.75%.

Analysts Set New Price Targets

Several research analysts have weighed in on TU shares. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Canaccord Genuity Group boosted their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Finally, StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.