Principal Financial Group Inc. Sells 19,251 Shares of Altria Group, Inc. $MO

Principal Financial Group Inc. lowered its stake in Altria Group, Inc. (NYSE:MO) by 1.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,933,124 shares of the company’s stock after selling 19,251 shares during the quarter. Principal Financial Group Inc.’s holdings in Altria Group were worth $139,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 10.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock valued at $3,777,931,000 after purchasing an additional 6,265,780 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Altria Group by 3,691.2% in the second quarter. Assenagon Asset Management S.A. now owns 3,606,561 shares of the company’s stock worth $259,492,000 after buying an additional 3,511,430 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Altria Group by 286.7% in the third quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock worth $295,929,000 after buying an additional 3,321,262 shares in the last quarter. Vanguard Group Inc. boosted its stake in Altria Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock valued at $9,282,143,000 after buying an additional 1,903,530 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in Altria Group by 301.4% during the fourth quarter. Bank of Nova Scotia now owns 2,416,142 shares of the company’s stock valued at $139,315,000 after buying an additional 1,814,224 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Insider Activity at Altria Group

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the sale, the director owned 73,809 shares in the company, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director owned 25,102 shares of the company’s stock, valued at approximately $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. BTIG Research started coverage on Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. UBS Group boosted their price target on shares of Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.11.

Altria Group Trading Up 2.1%

MO opened at $65.32 on Wednesday. The firm has a market cap of $109.07 billion, a P/E ratio of 13.78, a P/E/G ratio of 2.33 and a beta of 0.46. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $77.06. The stock has a 50-day moving average of $70.55 and a 200 day moving average of $68.75.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, research analysts forecast that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

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.