Legal & General Group Plc Cuts Position in Tim S.A. (NYSE:TIMB)

Legal & General Group Plc decreased its position in shares of Tim S.A. (NYSE:TIMB - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,968 shares of the company's stock after selling 31,620 shares during the quarter. Legal & General Group Plc's holdings in TIM were worth $2,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC bought a new stake in TIM in the fourth quarter worth approximately $330,000. Schroder Investment Management Group acquired a new stake in shares of TIM during the 4th quarter worth approximately $5,666,000. Arrowstreet Capital Limited Partnership increased its stake in shares of TIM by 8.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company's stock valued at $22,732,000 after acquiring an additional 152,061 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of TIM by 2.3% during the 4th quarter. JPMorgan Chase & Co. now owns 829,841 shares of the company's stock valued at $9,759,000 after acquiring an additional 18,970 shares during the period. Finally, Banco BTG Pactual S.A. bought a new position in TIM during the fourth quarter worth $220,000.

Analysts Set New Price Targets

TIMB has been the subject of several research analyst reports. Scotiabank decreased their price target on shares of TIM from $23.20 to $17.60 and set a "sector outperform" rating for the company in a research note on Wednesday, February 12th. Barclays boosted their target price on TIM from $16.00 to $16.50 and gave the company an "equal weight" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group raised their price objective on TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a research note on Wednesday.

TIM Stock Performance

Shares of NYSE:TIMB traded up $0.02 during mid-day trading on Wednesday, reaching $16.63. The company had a trading volume of 321,528 shares, compared to its average volume of 516,791. The company's 50-day moving average price is $15.09 and its 200-day moving average price is $14.03. Tim S.A. has a one year low of $11.32 and a one year high of $18.39. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.67 and a beta of 0.53. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a return on equity of 11.91% and a net margin of 12.24%. As a group, equities research analysts anticipate that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, April 11th will be given a dividend of $0.2288 per share. This represents a yield of 5.73%. This is a boost from TIM's previous dividend of $0.08. The ex-dividend date is Thursday, April 10th. TIM's payout ratio is presently 65.25%.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.