CANADA LIFE ASSURANCE Co Reduces Position in TELUS Co. (NYSE:TU)

CANADA LIFE ASSURANCE Co cut its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 815,228 shares of the Wireless communications provider’s stock after selling 62,768 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in TELUS were worth $13,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management bought a new stake in TELUS during the 1st quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in TELUS during the 4th quarter worth approximately $33,000. Gulf International Bank UK Ltd increased its holdings in TELUS by 39.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock worth $44,000 after acquiring an additional 784 shares during the period. CVA Family Office LLC bought a new stake in TELUS during the 4th quarter worth approximately $49,000. Finally, UniSuper Management Pty Ltd bought a new stake in TELUS during the 1st quarter worth approximately $58,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, TELUS has a consensus rating of “Hold” and a consensus price target of $26.20.

TELUS Price Performance

Shares of NYSE:TU traded up $0.05 during trading on Thursday, reaching $15.81. The company had a trading volume of 1,220,132 shares, compared to its average volume of 2,285,174. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14. The stock has a market capitalization of $23.34 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The company has a fifty day moving average of $15.86 and a two-hundred day moving average of $16.59. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.42.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. TELUS had a net margin of 3.73% and a return on equity of 7.90%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Equities research analysts forecast that TELUS Co. will post 0.75 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were paid a $0.282 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.13%. TELUS’s dividend payout ratio is 292.31%.

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.