Man Group plc Acquires 850,876 Shares of TELUS Co. (NYSE:TU)

Man Group plc increased its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 68.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,099,097 shares of the Wireless communications provider's stock after acquiring 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 SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Avior Wealth Management LLC raised its holdings in 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 last quarter. Optiver Holding B.V. acquired a new position in shares of TELUS in the 4th quarter valued at about $120,000. Blueshift Asset Management LLC purchased a new stake in TELUS during the fourth quarter worth approximately $142,000. Triasima Portfolio Management inc. acquired a new stake in TELUS in the 4th quarter valued at $146,000. Finally, Legal & General Group Plc acquired a new stake in TELUS in the 4th quarter valued at $190,000. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Canaccord Genuity Group upped their target price on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a report on Monday, May 12th. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, TELUS currently has a consensus rating of "Hold" and a consensus target price of $21.50.

TELUS Stock Performance

TU stock traded up $0.07 during mid-day trading on Monday, reaching $15.87. 960,817 shares of the stock traded hands, compared to its average volume of 2,906,496. The business has a 50-day moving average of $14.81 and a two-hundred day moving average of $14.81. The firm has a market capitalization of $24.03 billion, a PE ratio of 32.39, a P/E/G ratio of 5.18 and a beta of 0.73. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.2989 per share. This represents a $1.20 annualized dividend and a yield of 7.53%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 10th. TELUS's dividend payout ratio is currently 201.75%.

TELUS 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.