altria group announces temporary suspension of trading in benefit plans

Altria Group , Inc. (NYSE:MO), a $101.6 billion tobacco giant currently trading near its 52-week high of $61.26, has announced a temporary suspension of trading under its employee benefit plans. The suspension is due to a transition in trustee services from State Street (NYSE:STT) Bank and Trust Company to Fidelity Management Trust Company. This transition will affect the company’s Deferred Profit-Sharing Plans for both salaried and hourly employees.

The blackout period is scheduled to begin at 4:00 p.m. Eastern Time on July 10, 2025, and is expected to conclude during the week of July 13, 2025. During this time, participants and beneficiaries will not be able to direct or diversify investments in their individual accounts, nor will they be able to obtain a loan, withdrawal, or distribution from their accounts. According to InvestingPro, Altria maintains a "GREAT" financial health score, suggesting strong operational stability during this transition period.

On Tuesday, Altria issued a blackout notice to its directors and executive officers, in compliance with Section 306(a) of the Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR under the Securities Exchange Act of 1934. This notice prohibits directors and executive officers from purchasing, selling, or otherwise transferring any company common stock acquired in connection with their service during the blackout period.

The information regarding the blackout period and the transition of trustee services was disclosed in an 8-K filing with the Securities and Exchange Commission. A copy of the blackout notice is attached as Exhibit 99.1 in the filing.

Altria Group, Inc., headquartered in Richmond, Virginia, is known for its production and sale of cigarettes and related products. The company’s common stock, as well as several notes, are traded on the New York Stock Exchange under the symbols MO, MO25, MO27, and MO31.

In other recent news, Altria Group has reported a strong start to 2025, with earnings per share (EPS) of $1.23, marking a 6% increase from the previous year. This performance exceeded Stifel analysts’ estimates by 2%, leading them to raise the price target for Altria shares to $63 from $60, while maintaining a Buy rating. Altria’s Smokeable products division contributed significantly to this growth, with a 3% rise in profit despite a reported 13.7% decline in cigarette volume. Additionally, S&P Global Ratings upgraded Altria’s credit rating to ’BBB+’ from ’BBB’, citing strong credit metrics and profitability. The company’s commitment to developing next-generation smokeless products, despite challenges such as the NJOY ACE e-vapor product’s removal due to a patent dispute, was noted as a factor in maintaining a stable outlook. Altria also held its Annual Meeting of Shareholders, where all board nominees were elected, and key financial plans were approved, including the 2025 Performance Incentive Plan. Furthermore, Altria declared a regular quarterly dividend of $1.02 per share, reinforcing its commitment to shareholder returns.

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