Philip Morris International Inc. $PM is Kinsale Capital Group Inc.’s 4th Largest Position

Kinsale Capital Group Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,157 shares of the company’s stock after purchasing an additional 5,901 shares during the quarter. Philip Morris International accounts for 3.1% of Kinsale Capital Group Inc.’s holdings, making the stock its 4th biggest holding. Kinsale Capital Group Inc.’s holdings in Philip Morris International were worth $14,963,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PM. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after buying an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after acquiring an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares during the period. Nuveen LLC purchased a new position in Philip Morris International during the 1st quarter valued at $1,712,994,000. Finally, Goldman Sachs Group Inc. grew its position in Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after acquiring an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Barclays decreased their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. UBS Group dropped their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $153.26 on Friday. The stock has a market capitalization of $238.58 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.43. The business has a fifty day moving average price of $158.30 and a 200 day moving average price of $168.34. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is 106.52%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.