The Manufacturers Life Insurance Company Has $94.75 Million Stock Holdings in TELUS Co. (NYSE:TU)

The Manufacturers Life Insurance Company lessened its stake in TELUS Co. (NYSE:TU) (TSE:T) by 37.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,643,602 shares of the Wireless communications provider’s stock after selling 3,435,009 shares during the quarter. The Manufacturers Life Insurance Company owned 0.38% of TELUS worth $94,747,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TU. Tidal Investments LLC increased its stake in TELUS by 85.8% in the 1st quarter. Tidal Investments LLC now owns 19,540 shares of the Wireless communications provider’s stock valued at $313,000 after buying an additional 9,024 shares during the period. Virtu Financial LLC increased its stake in shares of TELUS by 20.8% during the 1st quarter. Virtu Financial LLC now owns 25,524 shares of the Wireless communications provider’s stock worth $409,000 after purchasing an additional 4,394 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of TELUS during the 1st quarter worth $213,000. Cardinal Capital Management Inc. increased its stake in shares of TELUS by 2.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 342,059 shares of the Wireless communications provider’s stock worth $5,175,000 after purchasing an additional 8,483 shares during the last quarter. Finally, Value Partners Investments Inc. increased its stake in shares of TELUS by 12.7% during the 2nd quarter. Value Partners Investments Inc. now owns 15,265 shares of the Wireless communications provider’s stock worth $231,000 after purchasing an additional 1,716 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

NYSE TU opened at $15.49 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $15.99 and a 200 day simple moving average of $16.05. The company has a market cap of $23.23 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.23 and a beta of 0.75. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. TELUS’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. On average, sell-side analysts predict that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 7.67%. The ex-dividend date is Wednesday, December 11th. TELUS’s dividend payout ratio is currently 244.69%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TU shares. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.00.

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.