Legal & General Group Plc Raises Holdings in Millicom International Cellular SA $TIGO

Legal & General Group Plc lifted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 249,096 shares of the technology company’s stock after purchasing an additional 10,852 shares during the period. Legal & General Group Plc’s holdings in Millicom International Cellular were worth $13,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Allworth Financial LP increased its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares in the last quarter. Blue Trust Inc. increased its stake in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after purchasing an additional 427 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares in the last quarter. Spire Wealth Management purchased a new position in Millicom International Cellular in the 4th quarter valued at approximately $29,000. Finally, GAMMA Investing LLC increased its stake in Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after purchasing an additional 335 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TIGO shares. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Tuesday, May 26th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. raised their price target 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $88.88 on Wednesday. Millicom International Cellular SA has a twelve month low of $35.62 and a twelve month high of $89.48. The stock has a market capitalization of $15.02 billion, a P/E ratio of 12.08 and a beta of 0.91. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The business’s fifty day moving average price is $81.06 and its 200 day moving average price is $67.20.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, research analysts anticipate that Millicom International Cellular SA will post 2.34 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 40.76%.

Millicom International Cellular Company 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.