Conning Inc. Has $26.57 Million Stake in Philip Morris International (NYSE:PM)

Conning Inc. grew its stake in shares of Philip Morris International (NYSE:PM) by 10.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 267,274 shares of the company’s stock after acquiring an additional 25,278 shares during the quarter. Conning Inc.’s holdings in Philip Morris International were worth $26,567,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its stake in shares of Philip Morris International by 10.3% in the third quarter. Sigma Planning Corp now owns 28,418 shares of the company’s stock valued at $3,155,000 after buying an additional 2,649 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Philip Morris International by 10.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 781,845 shares of the company’s stock valued at $92,764,000 after buying an additional 73,754 shares during the period. HighPoint Advisor Group LLC increased its stake in shares of Philip Morris International by 521.0% in the third quarter. HighPoint Advisor Group LLC now owns 41,516 shares of the company’s stock valued at $4,268,000 after buying an additional 34,831 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO increased its stake in shares of Philip Morris International by 1.6% in the third quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 40,741 shares of the company’s stock valued at $4,523,000 after buying an additional 658 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Philip Morris International by 3.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,036,041 shares of the company’s stock valued at $226,008,000 after purchasing an additional 60,807 shares in the last quarter. Hedge funds and other institutional investors own 72.70% of the company’s stock.

In other news, CEO Andre Calantzopoulos sold 49,000 shares of Philip Morris International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the transaction, the chief executive officer now owns 792,765 shares in the company, valued at $82,178,019.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marc S. Firestone sold 13,650 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the transaction, the insider now owns 189,199 shares in the company, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 49,000 shares of company stock valued at $3,989,640 and have sold 162,650 shares valued at $14,713,540. Insiders own 0.22% of the company’s stock.

Several equities research analysts recently commented on PM shares. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Goldman Sachs lowered Philip Morris International from a “conviction-buy” rating to a “buy” rating in a report on Friday, April 20th. Cowen reiterated a “buy” rating and issued a $105.00 price target on shares of Philip Morris International in a report on Friday, April 20th. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Friday, January 19th. Finally, TheStreet lowered Philip Morris International from a “b-” rating to a “c+” rating in a report on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and an average price target of $116.86.

NYSE:PM opened at $81.04 on Friday. The firm has a market cap of $125.74 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.59 and a beta of 0.88. Philip Morris International has a 52-week low of $80.23 and a 52-week high of $81.33. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.12. Philip Morris International had a negative return on equity of 72.40% and a net margin of 7.50%. The firm had revenue of $6.90 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. equities research analysts anticipate that Philip Morris International will post 5.23 EPS for the current year.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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