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

The Manufacturers Life Insurance Company decreased its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 37.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,643,602 shares of the Wireless communications provider's stock after selling 3,435,009 shares during the period. The Manufacturers Life Insurance Company owned about 0.38% of TELUS worth $94,747,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TU. TD Asset Management Inc grew its holdings in shares of TELUS by 3.0% in the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock worth $631,310,000 after purchasing an additional 1,208,720 shares during the last quarter. 1832 Asset Management L.P. grew its stake in TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock worth $578,253,000 after buying an additional 2,365,753 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of TELUS by 1.8% during the second quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider's stock worth $338,953,000 after buying an additional 387,686 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of TELUS by 1.3% during the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider's stock worth $283,854,000 after buying an additional 211,815 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of TELUS by 5.4% in the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider's stock valued at $188,835,000 after acquiring an additional 636,845 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Trading Up 1.6 %

Shares of TU stock traded up $0.24 on Thursday, reaching $15.47. 2,232,682 shares of the stock were exchanged, compared to its average volume of 2,321,045. The stock has a 50 day moving average price of $15.96 and a 200 day moving average price of $16.04. The stock has a market cap of $23.21 billion, a PE ratio of 32.91, a P/E/G ratio of 2.23 and a beta of 0.75. TELUS Co. has a one year low of $14.63 and a one year high of $19.14. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company posted $0.19 EPS. The company's revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.297 per share. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.19 annualized dividend and a dividend yield of 7.68%. TELUS's payout ratio is presently 253.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com lowered TELUS from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a report on Monday, October 28th. Finally, Canaccord Genuity Group cut TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.00.

About TELUS

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.