BNP Paribas Arbitrage SA increased its stake in shares of Vector Group Ltd. (NYSE:VGR) by 7,067.2% during the second quarter, Holdings Channel reports. The fund owned 4,587 shares of the company’s stock after buying an additional 4,523 shares during the period. BNP Paribas Arbitrage SA’s holdings in Vector Group were worth $103,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Sterneck Capital Management LLC bought a new position in Vector Group during the first quarter valued at approximately $357,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Vector Group by 22.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 33,299 shares of the company’s stock worth $761,000 after buying an additional 6,146 shares in the last quarter. Magnetar Financial LLC boosted its position in shares of Vector Group by 32.9% in the first quarter. Magnetar Financial LLC now owns 12,850 shares of the company’s stock worth $293,000 after buying an additional 3,183 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Vector Group by 13.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,816 shares of the company’s stock worth $156,000 after buying an additional 823 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Vector Group by 7.6% in the first quarter. Renaissance Technologies LLC now owns 6,486,096 shares of the company’s stock worth $148,142,000 after buying an additional 460,865 shares in the last quarter. Hedge funds and other institutional investors own 41.93% of the company’s stock.
Vector Group Ltd. (NYSE:VGR) traded up 0.47% during midday trading on Friday, hitting $21.53. 577,218 shares of the stock traded hands. Vector Group Ltd. has a 12-month low of $19.33 and a 12-month high of $24.38. The firm’s 50 day moving average is $21.46 and its 200-day moving average is $20.99. The stock has a market capitalization of $2.80 billion, a PE ratio of 43.41 and a beta of 0.39.
Vector Group (NYSE:VGR) last released its earnings results on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.02. Vector Group had a net margin of 3.65% and a negative return on equity of 55.23%. The firm earned $438.30 million during the quarter, compared to the consensus estimate of $430.70 million. During the same period in the prior year, the business posted $0.18 earnings per share. Vector Group’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Vector Group Ltd. will post $0.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Wednesday, September 21st were paid a $0.40 dividend. The ex-dividend date was Monday, September 19th. This represents a $1.60 annualized dividend and a dividend yield of 7.43%. Vector Group’s dividend payout ratio is presently 329.41%.
VGR has been the subject of a number of recent research reports. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $27.00 price objective on shares of Vector Group in a research note on Tuesday, August 30th. TheStreet upgraded shares of Vector Group from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, Zacks Investment Research upgraded shares of Vector Group from a “sell” rating to a “hold” rating in a research note on Wednesday.
About Vector Group
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries; the sale of electronic cigarettes (e-cigarettes) in the United States through its Zoom E-Cigs LLC (Zoom) subsidiary, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
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