Man Group plc Has $28.46 Million Stock Holdings in TELUS Co. (NYSE:TU)

Man Group plc grew its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 68.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,099,097 shares of the Wireless communications provider’s stock after buying an additional 850,876 shares during the period. Man Group plc owned approximately 0.14% of TELUS worth $28,463,000 at the end of the most recent quarter.

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

TELUS Trading Up 1.0%

Shares of TU opened at $15.69 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 5.18 and a beta of 0.73. The business’s fifty day moving average is $14.80 and its 200-day moving average is $14.83.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be given a $0.2989 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date is Tuesday, June 10th. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is currently 234.69%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TU shares. Canaccord Genuity Group lifted their price objective on TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a report on Monday. National Bankshares restated a “sector perform” rating on shares of TELUS in a research report on Monday. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.