Millicom International Cellular SA $TIGO Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,096 shares of the technology company’s stock after purchasing an additional 10,852 shares during the quarter. Legal & General Group Plc owned 0.14% of Millicom International Cellular worth $13,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Millicom International Cellular during the 3rd quarter worth $875,000. JPMorgan Chase & Co. grew its stake in Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after purchasing an additional 5,020,602 shares in the last quarter. William Blair Investment Management LLC grew its stake in Millicom International Cellular by 15.0% during the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after purchasing an additional 16,695 shares in the last quarter. Assetmark Inc. grew its stake in Millicom International Cellular by 31.1% during the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after purchasing an additional 20,194 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Millicom International Cellular by 4.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock worth $22,951,000 after purchasing an additional 16,126 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TIGO shares. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Scotiabank upped their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Tuesday, May 26th. Finally, HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Stock Up 3.6%

Shares of NASDAQ TIGO opened at $88.88 on Wednesday. The business has a 50-day moving average price of $81.06 and a 200 day moving average price of $67.20. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.02 billion, a PE ratio of 12.08 and a beta of 0.91. Millicom International Cellular SA has a 52-week low of $35.62 and a 52-week high of $89.48.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Equities research analysts forecast that Millicom International Cellular SA will post 2.34 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio is currently 40.76%.

Millicom International Cellular Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.