Principal Financial Group Inc. boosted its position in shares of Altria Group (NYSE:MO) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,848,902 shares of the company’s stock after buying an additional 211,395 shares during the period. Principal Financial Group Inc. owned 0.20% of Altria Group worth $265,421,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Century Investment Management Inc. raised its position in Altria Group by 0.7% in the first quarter. New Century Investment Management Inc. now owns 19,544 shares of the company’s stock valued at $1,225,000 after buying an additional 128 shares during the period. RKL Wealth Management LLC raised its position in Altria Group by 502.8% in the first quarter. RKL Wealth Management LLC now owns 46,130 shares of the company’s stock valued at $2,891,000 after buying an additional 38,477 shares during the period. Sumitomo Life Insurance Co. raised its position in Altria Group by 8.8% in the first quarter. Sumitomo Life Insurance Co. now owns 95,065 shares of the company’s stock valued at $5,957,000 after buying an additional 7,713 shares during the period. RDL Financial Inc. bought a new position in Altria Group during the first quarter valued at approximately $1,260,000. Finally, Douglas Lane & Associates LLC bought a new position in Altria Group during the first quarter valued at approximately $1,200,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded down 0.60% during trading on Monday, reaching $62.85. The company’s stock had a trading volume of 701,468 shares. Altria Group has a 1-year low of $55.01 and a 1-year high of $70.15. The stock has a market capitalization of $122.81 billion, a price-to-earnings ratio of 21.82 and a beta of 0.52. The company’s 50-day moving average price is $65.00 and its 200 day moving average price is $64.95.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. Altria Group’s revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.61 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, September 13th. Altria Group’s dividend payout ratio is 84.72%.
MO has been the topic of several research reports. Credit Agricole SA cut their price objective on Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, September 15th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price on the stock. in a research report on Monday, August 1st. Argus set a $73.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, July 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $72.00 target price on shares of Altria Group in a research report on Monday, September 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Altria Group has an average rating of “Buy” and an average price target of $69.44.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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