Empire Life Investments Inc. Has $19.33 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Empire Life Investments Inc. reduced its position in Altria Group, Inc. (NYSE:MO) by 15.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 369,720 shares of the company’s stock after selling 65,559 shares during the period. Empire Life Investments Inc.’s holdings in Altria Group were worth $19,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Altria Group in the 4th quarter valued at $25,000. True Wealth Design LLC grew its stake in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group during the third quarter worth $34,000. Peterson Financial Group Inc. acquired a new stake in shares of Altria Group during the third quarter worth $41,000. Finally, Fairman Group LLC grew its stake in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Down 0.5 %

Altria Group stock opened at $53.37 on Friday. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The stock’s 50 day moving average is $52.83 and its 200-day moving average is $52.55. The company has a market capitalization of $90.44 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 2.80 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.65%. The ex-dividend date was Thursday, December 26th. Altria Group’s payout ratio is presently 62.29%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MO. Barclays lifted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.