Conning Inc. Grows Stake in Altria Group Inc (MO)

Conning Inc. grew its holdings in Altria Group Inc (NYSE:MO) by 24.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 484,125 shares of the company’s stock after buying an additional 94,412 shares during the quarter. Conning Inc.’s holdings in Altria Group were worth $30,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of Tennessee Treasury Department lifted its stake in shares of Altria Group by 17.0% in the 1st quarter. State of Tennessee Treasury Department now owns 1,571,058 shares of the company’s stock valued at $112,205,000 after purchasing an additional 227,790 shares during the period. CIBC World Markets Inc. lifted its stake in shares of Altria Group by 35.3% in the 1st quarter. CIBC World Markets Inc. now owns 403,739 shares of the company’s stock valued at $28,835,000 after purchasing an additional 105,396 shares during the period. Blue Chip Partners Inc. lifted its stake in shares of Altria Group by 0.3% in the 1st quarter. Blue Chip Partners Inc. now owns 55,610 shares of the company’s stock valued at $3,972,000 after purchasing an additional 142 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Altria Group by 15.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 281,489 shares of the company’s stock valued at $20,103,000 after purchasing an additional 37,696 shares during the period. Finally, Financial Advisory Service Inc. lifted its stake in shares of Altria Group by 7.8% in the 1st quarter. Financial Advisory Service Inc. now owns 11,158 shares of the company’s stock valued at $797,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.

A number of research analysts have recently commented on the company. Berenberg Bank restated a “hold” rating on shares of Altria Group in a research note on Tuesday, October 31st. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price objective for the company. in a research report on Monday, October 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $62.00 price objective on shares of Altria Group in a research report on Tuesday, October 3rd. Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $71.00 in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Altria Group presently has an average rating of “Hold” and an average target price of $72.87.

Shares of Altria Group Inc (NYSE:MO) opened at $69.61 on Friday. The company has a market capitalization of $132,830.00, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. Altria Group Inc has a fifty-two week low of $60.01 and a fifty-two week high of $77.79. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.14.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. sell-side analysts expect that Altria Group Inc will post 3.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Wednesday, December 20th. Altria Group’s payout ratio is 33.00%.

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About Altria Group

Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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