Stifel Financial Corp Trims Stock Position in TELUS Co. (NYSE:TU)

Stifel Financial Corp decreased its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 56.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in TELUS by 1,756.0% in the fourth 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. Blueshift Asset Management LLC acquired a new position in shares of TELUS during the 4th quarter valued at $142,000. Triasima Portfolio Management inc. acquired a new position in shares of TELUS in the 4th quarter valued at about $146,000. Legal & General Group Plc bought a new stake in shares of TELUS during the fourth quarter valued at approximately $190,000. Finally, Leo Wealth LLC acquired a new stake in TELUS during the 4th quarter valued at $279,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Trading Up 0.5%

Shares of TU traded up $0.08 during trading hours on Friday, hitting $15.78. 1,957,446 shares of the stock traded hands, compared to its average volume of 2,914,310. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $23.89 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. The business has a fifty day moving average of $14.81 and a 200-day moving average of $14.81.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be paid a $0.2989 dividend. 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 is 234.69%.

Wall Street Analyst Weigh In

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