The Manufacturers Life Insurance Company Makes New $99.24 Million Investment in Altria Group, Inc. $MO

The Manufacturers Life Insurance Company acquired a new stake in shares of Altria Group, Inc. (NYSE:MO) in the second quarter, HoldingsChannel reports. The fund acquired 1,379,243 shares of the company’s stock, valued at approximately $99,237,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Van Hulzen Asset Management LLC bought a new stake in Altria Group in the second quarter worth $913,000. Veratis Advisors Inc. bought a new position in Altria Group in the 2nd quarter worth approximately $201,000. Paradigm Capital Management LLC NV bought a new position in Altria Group during the second quarter worth $2,262,000. Fiduciary Financial Advisors acquired a new position in shares of Altria Group during the second quarter valued at about $250,000. Finally, Manning & Napier Advisors LLC acquired a new position in Altria Group in the 2nd quarter valued at approximately $369,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Altria Group Stock Down 0.6%

Shares of MO opened at $68.08 on Wednesday. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $77.06. The company has a 50 day moving average of $70.14 and a 200-day moving average of $68.91. The stock has a market capitalization of $113.68 billion, a P/E ratio of 14.36, a P/E/G ratio of 2.43 and a beta of 0.46.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

About Altria Group

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.