Kinsale Capital Group Inc. Purchases 14,792 Shares of Philip Morris International Inc. $PM

Kinsale Capital Group Inc. increased its position in Philip Morris International Inc. (NYSE:PM) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,097 shares of the company’s stock after acquiring an additional 14,792 shares during the period. Philip Morris International makes up 3.1% of Kinsale Capital Group Inc.’s portfolio, making the stock its 3rd biggest position. Kinsale Capital Group Inc.’s holdings in Philip Morris International were worth $22,917,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC grew its position in Philip Morris International by 9.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares during the last quarter. Hughes Financial Services LLC increased its stake in shares of Philip Morris International by 8.4% in the third quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock valued at $150,000 after purchasing an additional 56 shares during the period. Platt Wealth Management LLC increased its stake in shares of Philip Morris International by 2.1% in the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after purchasing an additional 58 shares during the period. Security Financial Services INC. raised its holdings in shares of Philip Morris International by 2.2% during the third quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock valued at $568,000 after buying an additional 64 shares during the last quarter. Finally, Shepherd Financial Partners LLC raised its holdings in shares of Philip Morris International by 4.9% during the third quarter. Shepherd Financial Partners LLC now owns 1,365 shares of the company’s stock valued at $260,000 after buying an additional 64 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 2.4%

Shares of NYSE PM opened at $193.16 on Tuesday. The stock’s fifty day simple moving average is $195.59 and its 200 day simple moving average is $182.93. The stock has a market capitalization of $301.07 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 2.83 and a beta of 0.34. Philip Morris International Inc. has a 52-week low of $146.35 and a 52-week high of $214.35.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a $1.60 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date was Friday, October 2nd. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s payout ratio is currently 93.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Argus raised their target price on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Citigroup lifted their target price on Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group boosted their price target on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley boosted their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.40.

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.