BNP Paribas Arbitrage SA boosted its stake in shares of Vector Group Ltd. (NYSE:VGR) by 76.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,086 shares of the company’s stock after buying an additional 3,499 shares during the period. BNP Paribas Arbitrage SA’s holdings in Vector Group were worth $174,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VGR. Aperio Group LLC increased its position in shares of Vector Group by 2.4% in the first quarter. Aperio Group LLC now owns 75,281 shares of the company’s stock valued at $1,719,000 after buying an additional 1,771 shares in the last quarter. IFP Advisors Inc increased its position in shares of Vector Group by 101.8% in the first quarter. IFP Advisors Inc now owns 10,479 shares of the company’s stock valued at $239,000 after buying an additional 5,285 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Vector Group by 1.4% in the first quarter. Teachers Advisors Inc. now owns 691,945 shares of the company’s stock valued at $15,804,000 after buying an additional 9,812 shares in the last quarter. Algert Global LLC increased its position in shares of Vector Group by 21.8% in the first quarter. Algert Global LLC now owns 20,476 shares of the company’s stock valued at $468,000 after buying an additional 3,665 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Vector Group by 1,199.1% in the first quarter. BlackRock Inc. now owns 29,710 shares of the company’s stock valued at $679,000 after buying an additional 27,423 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Vector Group Ltd. (NYSE:VGR) opened at 20.32 on Friday. The firm has a market cap of $2.64 billion, a PE ratio of 40.97 and a beta of 0.39. The firm has a 50-day moving average of $21.44 and a 200 day moving average of $20.94. Vector Group Ltd. has a 52-week low of $19.33 and a 52-week high of $24.38.
Vector Group (NYSE:VGR) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ 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 business earned $438.30 million during the quarter, compared to analyst estimates of $430.70 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Vector Group Ltd. will post $0.68 earnings per share for the current year.
The firm also recently declared 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 7.87%. Vector Group’s dividend payout ratio (DPR) is presently 329.41%.
Several research firms have weighed in 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 objective for the company in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $27.00 price objective on shares of Vector Group in a research report on Tuesday, August 30th. Finally, TheStreet upgraded shares of Vector Group from a “hold” rating to a “buy” rating in a research report on Friday, September 16th.
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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