CANADA LIFE ASSURANCE Co Has $9.32 Million Stock Holdings in TELUS Co. (NYSE:TU)

CANADA LIFE ASSURANCE Co grew its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688,874 shares of the Wireless communications provider's stock after buying an additional 102,321 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in TELUS were worth $9,321,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after acquiring an additional 1,951 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of 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 purchasing an additional 4,548 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of TELUS during the 4th quarter worth about $142,000. Triasima Portfolio Management inc. acquired a new position in TELUS in the 4th quarter valued at about $146,000. Finally, Legal & General Group Plc bought a new position in TELUS in the 4th quarter valued at about $190,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TU shares. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Cormark downgraded 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 note on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold".

TELUS Trading Down 0.4 %

NYSE:TU traded down $0.06 during mid-day trading on Friday, hitting $14.98. 1,952,791 shares of the company's stock were exchanged, compared to its average volume of 2,864,384. The company has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $14.89. The firm has a market capitalization of $22.68 billion, a P/E ratio of 30.57, a PEG ratio of 5.18 and a beta of 0.70. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, research analysts expect that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were issued a $0.2829 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.55%. TELUS's payout ratio is currently 226.53%.

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.