The Manufacturers Life Insurance Company Has $185.80 Million Stock Holdings in Altria Group, Inc. $MO

Key Points

• The Manufacturers Life Insurance Company increased its stake in Altria Group by 184.6% during Q1, owning over 3 million shares valued at approximately $185.8 million.
• Altria Group announced a quarterly dividend of $1.06 per share, marking a positive increase from the previous dividend of $1.02, with a yield of 6.3%.
• Altria Group reported earnings of $1.44 per share for the most recent quarter, exceeding analyst expectations and showing a slight year-over-year revenue growth of 0.2%.

The Manufacturers Life Insurance Company increased its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 184.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,095,636 shares of the company's stock after buying an additional 2,007,859 shares during the quarter. The Manufacturers Life Insurance Company owned 0.18% of Altria Group worth $185,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Altria Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company's stock worth $9,490,196,000 after buying an additional 1,300,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Altria Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock valued at $3,798,592,000 after buying an additional 3,483,487 shares during the period. GQG Partners LLC lifted its holdings in Altria Group by 8,146.4% in the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock valued at $1,122,290,000 after buying an additional 18,471,846 shares during the period. Invesco Ltd. lifted its holdings in Altria Group by 3.7% in the first quarter. Invesco Ltd. now owns 12,243,041 shares of the company's stock valued at $734,827,000 after buying an additional 441,083 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Altria Group by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company's stock worth $717,913,000 after purchasing an additional 3,415,237 shares during the period. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

MO stock traded down $0.12 during trading on Tuesday, reaching $67.09. 6,916,777 shares of the company were exchanged, compared to its average volume of 9,040,958. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The company has a 50-day moving average of $61.96 and a two-hundred day moving average of $59.41. The company has a market capitalization of $112.70 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 3.61 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same period in the prior year, the company posted $1.31 EPS. The company's revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group's dividend payout ratio is currently 82.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Barclays lifted their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Bank of America boosted their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Finally, Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has an average rating of "Hold" and a consensus target price of $60.88.

About Altria Group

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.