Stifel Financial Corp Sells 44,659 Shares of TELUS Co. (NYSE:TU)

Stifel Financial Corp decreased its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 56.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,603 shares of the Wireless communications provider's stock after selling 44,659 shares during the period. Stifel Financial Corp's holdings in TELUS were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TU. Bank of Nova Scotia boosted its position in shares of TELUS by 28.3% in the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock valued at $409,662,000 after acquiring an additional 6,659,564 shares during the period. Norges Bank bought a new position in TELUS in the 4th quarter valued at $70,212,000. Mufg Securities Canada LTD. grew its position in shares of TELUS by 68.9% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock valued at $30,299,000 after purchasing an additional 912,277 shares in the last quarter. Vanguard Group Inc. grew its position in shares of TELUS by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock valued at $349,841,000 after purchasing an additional 903,921 shares in the last quarter. Finally, Guardian Partners Inc. bought a new position in shares of TELUS in the fourth quarter worth $12,325,000. Institutional investors own 49.40% of the company's stock.

Analysts Set New Price Targets

TU has been the subject of several research analyst reports. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday. Finally, National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $21.50.

TELUS Price Performance

Shares of NYSE TU traded up $0.08 during trading hours on Friday, reaching $15.78. 1,957,446 shares of the stock traded hands, compared to its average volume of 2,905,340. The company's 50-day simple moving average is $14.80 and its two-hundred day simple moving average is $14.83. The company has a market capitalization of $23.89 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27. 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 Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, June 10th. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.58%. TELUS's dividend payout ratio (DPR) is 234.69%.

About TELUS

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.