Principal Financial Group Inc. Has $122.36 Million Stake in Altria Group, Inc. $MO

Principal Financial Group Inc. trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,852,261 shares of the company’s stock after selling 33,841 shares during the period. Principal Financial Group Inc.’s holdings in Altria Group were worth $122,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in Altria Group in the 2nd quarter worth approximately $27,000. Country Trust Bank grew its stake in shares of Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Anfield Capital Management LLC grew its stake in shares of Altria Group by 334.7% in the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after acquiring an additional 415 shares during the last quarter. Winnow Wealth LLC bought a new position in Altria Group during the second quarter worth $35,000. Finally, WFA of San Diego LLC acquired a new position in Altria Group during the 2nd quarter valued at $39,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 0.5%

NYSE MO opened at $62.30 on Tuesday. Altria Group, Inc. has a twelve month low of $51.85 and a twelve month high of $68.60. The stock has a market cap of $104.59 billion, a P/E ratio of 15.16, a PEG ratio of 3.42 and a beta of 0.47. The company’s 50-day simple moving average is $59.19 and its 200 day simple moving average is $61.82.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its Board of Directors has approved a stock buyback plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio is 103.16%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MO. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. UBS Group upped their price target on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus decreased their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.56.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.