Vector Group (NYSE:VGR) Now Covered by StockNews.com

StockNews.com began coverage on shares of Vector Group (NYSE:VGR) in a report issued on Wednesday. The brokerage issued a buy rating on the stock.

Separately, Barclays lifted their target price on Vector Group from $15.00 to $16.00 and gave the stock an overweight rating in a report on Wednesday, August 14th.

Vector Group Trading Up 0.2 %

NYSE VGR opened at $14.99 on Wednesday. Vector Group has a 1 year low of $9.27 and a 1 year high of $15.53. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04. The firm’s 50 day simple moving average is $14.42 and its 200 day simple moving average is $12.05.

Vector Group (NYSE:VGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. The company had revenue of $371.91 million for the quarter, compared to the consensus estimate of $362.90 million. On average, equities research analysts forecast that Vector Group will post 1.22 earnings per share for the current year.

Vector Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 30th were paid a $0.20 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 5.34%. Vector Group’s payout ratio is 68.97%.

Institutional Investors Weigh In On Vector Group

A number of institutional investors and hedge funds have recently modified their holdings of VGR. Federated Hermes Inc. lifted its position in Vector Group by 0.5% during the second quarter. Federated Hermes Inc. now owns 183,913 shares of the company’s stock valued at $1,944,000 after purchasing an additional 935 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Vector Group by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 357,738 shares of the company’s stock worth $3,781,000 after acquiring an additional 1,020 shares during the last quarter. Arizona State Retirement System grew its position in Vector Group by 3.0% in the second quarter. Arizona State Retirement System now owns 39,729 shares of the company’s stock worth $420,000 after acquiring an additional 1,160 shares in the last quarter. QRG Capital Management Inc. grew its position in Vector Group by 8.3% in the second quarter. QRG Capital Management Inc. now owns 16,157 shares of the company’s stock worth $171,000 after acquiring an additional 1,238 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Vector Group by 3.1% in the second quarter. Natixis Advisors LLC now owns 44,984 shares of the company’s stock valued at $475,000 after acquiring an additional 1,346 shares during the last quarter. 64.09% of the stock is owned by hedge funds and other institutional investors.

About Vector Group

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.