Securian Asset Management Inc Acquires 1,265 Shares of Altria Group Inc (NYSE:MO)
Securian Asset Management Inc boosted its holdings in shares of Altria Group Inc (NYSE:MO) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,108 shares of the company’s stock after purchasing an additional 1,265 shares during the period. Securian Asset Management Inc’s holdings in Altria Group were worth $9,144,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Grimes & Company Inc. lifted its stake in shares of Altria Group by 9.3% in the 1st quarter. Grimes & Company Inc. now owns 8,387 shares of the company’s stock valued at $481,000 after acquiring an additional 717 shares during the last quarter. FMR LLC raised its position in Altria Group by 68.1% during the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock worth $4,520,337,000 after purchasing an additional 31,883,878 shares during the last quarter. Clearbridge Investments LLC raised its position in Altria Group by 78.2% during the 1st quarter. Clearbridge Investments LLC now owns 347,017 shares of the company’s stock worth $19,929,000 after purchasing an additional 152,302 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in Altria Group by 15.4% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 54,949 shares of the company’s stock worth $3,156,000 after purchasing an additional 7,339 shares during the last quarter. Finally, Bowling Portfolio Management LLC bought a new position in Altria Group during the 2nd quarter worth $2,502,000. Hedge funds and other institutional investors own 62.72% of the company’s stock.
Altria Group stock traded up $0.05 during trading hours on Wednesday, reaching $46.09. 1,825,729 shares of the company’s stock were exchanged, compared to its average volume of 7,961,507. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87. The firm’s 50 day simple moving average is $48.30 and its 200 day simple moving average is $51.45. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The firm has a market capitalization of $85.99 billion, a PE ratio of 11.55, a PEG ratio of 1.46 and a beta of 0.38.
Altria Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts recently issued reports on MO shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Friday, August 9th. TheStreet lowered Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Royal Bank of Canada set a $68.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research report on Friday, July 12th. Finally, Morgan Stanley lowered their target price on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $60.74.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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