Aviance Capital Management LLC boosted its position in shares of Vector Group Ltd. (NYSE:VGR) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 22,120 shares of the company’s stock after buying an additional 1,126 shares during the period. Aviance Capital Management LLC’s holdings in Vector Group were worth $496,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Vector Group by 12.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,821,822 shares of the company’s stock valued at $64,450,000 after buying an additional 307,150 shares in the last quarter. State Street Corp raised its stake in shares of Vector Group by 3.5% in the first quarter. State Street Corp now owns 1,536,568 shares of the company’s stock valued at $35,095,000 after buying an additional 52,494 shares in the last quarter. PARK CIRCLE Co raised its stake in shares of Vector Group by 25.6% in the second quarter. PARK CIRCLE Co now owns 230,860 shares of the company’s stock valued at $5,176,000 after buying an additional 47,000 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Vector Group by 37.1% in the first quarter. BlackRock Group LTD now owns 120,465 shares of the company’s stock valued at $2,751,000 after buying an additional 32,628 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.
Shares of Vector Group Ltd. (NYSE:VGR) remained flat at $21.69 during midday trading on Tuesday. The company’s stock had a trading volume of 392,536 shares. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 43.73 and a beta of 0.39. Vector Group Ltd. has a 52 week low of $20.30 and a 52 week high of $25.60. The firm’s 50 day moving average price is $22.24 and its 200 day moving average price is $21.97.
Vector Group (NYSE:VGR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. Vector Group had a negative return on equity of 55.23% and a net margin of 3.65%. The business had revenue of $438.30 million for the quarter, compared to analysts’ expectations of $430.70 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Vector Group’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Vector Group Ltd. will post $0.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $1.60 annualized dividend and a yield of 7.38%. Vector Group’s dividend payout ratio is currently 312.94%.
Several brokerages recently commented on VGR. Zacks Investment Research upgraded shares of Vector Group from a “strong sell” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Thursday, June 30th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $27.00 price target on shares of Vector Group in a research note on Tuesday, August 30th. Finally, TheStreet upgraded shares of Vector Group from a “hold” rating to a “buy” rating in a research note on Friday, September 16th.
Vector Group Company Profile
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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