Fjarde AP Fonden Fourth Swedish National Pension Fund Invests $55.44 Million in Millicom International Cellular SA $TIGO

Key Points

• Fjarde AP Fonden opened a new position in Millicom International Cellular, buying 1,000,000 shares worth about $55.44 million and becoming a 0.58% owner of the company.
• Several other institutional investors also increased or initiated stakes in TIGO, including Goldman Sachs, which reported a new position valued at about $50.7 million.
• Millicom shares were trading lower on the day despite solid fundamentals, with the company recently beating earnings expectations and maintaining a 3.6% dividend yield; analysts currently rate the stock a Moderate Buy with a consensus price target of $77.28.

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,000,000 shares of the technology company's stock, valued at approximately $55,440,000. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.58% of Millicom International Cellular as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TIGO. Royal Bank of Canada lifted its holdings in shares of Millicom International Cellular by 48.1% during the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company's stock worth $1,398,000 after acquiring an additional 14,990 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after acquiring an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Millicom International Cellular during the 1st quarter worth about $2,188,000. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the 1st quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Millicom International Cellular during the 1st quarter worth about $8,504,000.

Insider Buying and Selling at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 165,344 shares of the company's stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and set a $90.00 price objective for the company. in a report on Tuesday, May 26th. Scotiabank lifted their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. Morgan Stanley reissued a "positive" rating and set a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Finally, Zacks Research raised shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Millicom International Cellular presently has an average rating of "Moderate Buy" and a consensus price target of $77.28.

Millicom International Cellular Trading Down 5.3%

Shares of TIGO stock opened at $82.66 on Friday. Millicom International Cellular SA has a 12-month low of $35.62 and a 12-month high of $89.49. The company has a market capitalization of $13.97 billion, a P/E ratio of 11.23 and a beta of 0.91. The firm has a 50-day moving average price of $81.98 and a 200 day moving average price of $68.08. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Research analysts forecast that Millicom International Cellular SA will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. Millicom International Cellular's 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.

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