Northwestern Mutual Wealth Management Co. Acquires 1,260,666 Shares of Millicom International Cellular SA $TIGO

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 46,519.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,263,376 shares of the technology company’s stock after purchasing an additional 1,260,666 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Millicom International Cellular were worth $70,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TIGO. JPMorgan Chase & Co. increased its stake 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 valued at $313,555,000 after purchasing an additional 5,020,602 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the first quarter valued at approximately $50,664,000. State Street Corp increased its position 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 valued at $68,198,000 after acquiring an additional 1,026,063 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Millicom International Cellular by 201.7% during the second quarter. Qube Research & Technologies Ltd now owns 1,119,991 shares of the technology company’s stock valued at $41,966,000 after acquiring an additional 748,750 shares in the last quarter. Finally, Northern Trust Corp increased its position 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 valued at $61,699,000 after acquiring an additional 714,158 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank raised their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a research report on Monday, March 30th. 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 research report on Friday, March 6th. Morgan Stanley reissued a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $79.27 on Monday. Millicom International Cellular SA has a 12-month low of $35.49 and a 12-month high of $85.26. 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 firm’s 50 day moving average is $78.33 and its 200 day moving average is $64.35. The stock has a market capitalization of $13.40 billion, a P/E ratio of 10.77 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.99 billion. Research analysts expect that Millicom International Cellular SA will post 3.76 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The business 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 annualized dividend and a yield of 3.8%. Millicom International Cellular’s dividend payout ratio (DPR) is currently 40.76%.

About Millicom International Cellular

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.