Philip Morris International Inc. (NYSE:PM) Holdings Lifted by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. lifted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,608 shares of the company's stock after purchasing an additional 7,741 shares during the period. Philip Morris International comprises 2.2% of Kinsale Capital Group Inc.'s portfolio, making the stock its 13th largest position. Kinsale Capital Group Inc.'s holdings in Philip Morris International were worth $7,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PM. Iron Horse Wealth Management LLC raised its stake in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $25,000. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock worth $32,000 after purchasing an additional 116 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.3 %

Philip Morris International stock traded up $0.39 during trading hours on Friday, hitting $128.59. 9,066,012 shares of the company traded hands, compared to its average volume of 5,415,458. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a market cap of $199.94 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54. The firm's 50-day simple moving average is $124.30 and its two-hundred day simple moving average is $113.44.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 earnings per share. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, September 26th. Philip Morris International's payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Stifel Nicolaus restated a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Finally, UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.85.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.