MetLife Investment Management LLC Has $26.42 Million Stake in Altria Group, Inc. $MO

Key Points

• MetLife Investment Management LLC has reduced its stake in Altria Group, Inc. by 1.9%, owning 440,222 shares worth approximately $26.42 million after selling 8,387 shares in the first quarter.
• Analysts have mixed opinions on Altria Group, with the stock receiving a consensus rating of "Hold" and an average price target of $60.00 while some analysts have increased their price targets.
• Altria Group has announced a dividend increase to $1.06 per share, reflecting a yield of 6.3% and a payout ratio of 78.92%, with the dividend payable on October 10th.

MetLife Investment Management LLC lessened its position in Altria Group, Inc. (NYSE:MO - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 440,222 shares of the company's stock after selling 8,387 shares during the quarter. MetLife Investment Management LLC's holdings in Altria Group were worth $26,422,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in Altria Group in the 1st quarter worth $31,000. Sierra Ocean LLC increased its holdings in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Altria Group during the 4th quarter worth about $33,000. Bellwether Advisors LLC bought a new position in shares of Altria Group during the 4th quarter worth about $38,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of Altria Group by 51.8% during the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after purchasing an additional 217 shares during the period. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.0%

Shares of MO traded down $0.01 during mid-day trading on Thursday, hitting $66.40. 5,789,727 shares of the company traded hands, compared to its average volume of 9,072,749. The stock has a market capitalization of $111.55 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 3.57 and a beta of 0.59. The business has a 50-day moving average of $61.53 and a 200 day moving average of $59.05. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60.

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

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. Altria Group's payout ratio is currently 78.92%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MO shares. Morgan Stanley boosted their price objective 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. Bank of America boosted their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research report on Thursday, August 21st. Finally, Jefferies Financial Group initiated coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $60.88.

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.