Sumitomo Mitsui Trust Group Inc. Has $2 Million Stake in Tim S.A. (NYSE:TIMB)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Tim S.A. (NYSE:TIMB) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,198 shares of the company’s stock after selling 3,100 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in TIM were worth $2,001,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE increased its position in TIM by 814.4% during the first quarter. US Bancorp DE now owns 22,943 shares of the company’s stock worth $407,000 after buying an additional 20,434 shares during the last quarter. Summit Global Investments increased its position in TIM by 147.6% during the second quarter. Summit Global Investments now owns 325,462 shares of the company’s stock worth $4,661,000 after buying an additional 193,996 shares during the last quarter. QRG Capital Management Inc. acquired a new position in TIM during the first quarter worth $196,000. Daiwa Securities Group Inc. increased its position in TIM by 69.2% during the second quarter. Daiwa Securities Group Inc. now owns 22,000 shares of the company’s stock worth $315,000 after buying an additional 9,000 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of TIM by 16.0% in the second quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after purchasing an additional 127,465 shares during the last quarter.

TIM Stock Performance

NYSE TIMB opened at $14.26 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $15.59 and a 200 day simple moving average of $15.59. Tim S.A. has a twelve month low of $13.74 and a twelve month high of $19.14.

TIM (NYSE:TIMB) last released its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The company had revenue of $1.16 billion during the quarter. As a group, research analysts forecast that Tim S.A. will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were paid a $0.088 dividend. This represents a $0.35 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, September 30th. TIM’s payout ratio is presently 26.98%.

Analysts Set New Price Targets

TIMB has been the topic of several research analyst reports. Barclays lowered their price target on TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Scotiabank lowered their price target on TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 5th.

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.