Vestcor Inc Has $5.93 Million Stake in Millicom International Cellular SA $TIGO

Vestcor Inc raised its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,009 shares of the technology company’s stock after buying an additional 25,880 shares during the period. Vestcor Inc owned about 0.06% of Millicom International Cellular worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Millicom International Cellular by 348.9% during the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after buying an additional 5,020,602 shares in the last quarter. Barclays PLC increased its holdings in shares of Millicom International Cellular by 1.7% during the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after buying an additional 47,194 shares in the last quarter. State Street Corp increased its holdings in shares of Millicom International Cellular by 129.2% during the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after buying an additional 1,026,063 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the first quarter worth approximately $50,664,000. Finally, Northern Trust Corp increased its holdings in shares of Millicom International Cellular by 128.2% during the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock worth $61,699,000 after buying an additional 714,158 shares in the last quarter.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TIGO. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Scotiabank raised their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Tuesday, May 26th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $82.66 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market cap of $13.97 billion, a P/E ratio of 11.23 and a beta of 0.91. The firm has a 50 day simple moving average of $81.98 and a 200 day simple moving average of $68.08. Millicom International Cellular SA has a fifty-two week low of $35.62 and a fifty-two week high of $89.49.

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

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. Millicom International Cellular’s dividend payout ratio is presently 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.