Cypress Capital Management LLC WY purchased a new position in shares of Vector Group Ltd. (NYSE:VGR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 87,962 shares of the company’s stock, valued at approximately $1,972,000. Vector Group comprises 2.6% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 11th largest position.
Other institutional investors also recently made changes to their positions in the company. Hilton Capital Management LLC raised its position in shares of Vector Group by 5.3% in the second quarter. Hilton Capital Management LLC now owns 522,473 shares of the company’s stock worth $11,714,000 after buying an additional 26,311 shares during the period. Aviance Capital Management LLC raised its position in shares of Vector Group by 5.4% in the second quarter. Aviance Capital Management LLC now owns 22,120 shares of the company’s stock worth $496,000 after buying an additional 1,126 shares during the period. Jensen Investment Management Inc. raised its position in shares of Vector Group by 12.3% in the second quarter. Jensen Investment Management Inc. now owns 19,345 shares of the company’s stock worth $434,000 after buying an additional 2,120 shares during the period. Bank of Montreal Can bought a new position in shares of Vector Group during the second quarter worth $357,000. Finally, MSI Financial Services Inc raised its position in shares of Vector Group by 46.2% in the second quarter. MSI Financial Services Inc now owns 34,421 shares of the company’s stock worth $772,000 after buying an additional 10,878 shares during the period. Institutional investors own 41.99% of the company’s stock.
Vector Group Ltd. (NYSE:VGR) traded up 0.35% during trading on Monday, hitting $20.31. 390,309 shares of the company traded hands. The firm has a 50 day moving average of $21.35 and a 200 day moving average of $20.88. Vector Group Ltd. has a one year low of $19.33 and a one year high of $24.38. The firm has a market cap of $2.64 billion, a P/E ratio of 40.95 and a beta of 0.39.
Vector Group (NYSE:VGR) last released its earnings results on Thursday, July 28th. The company reported $0.20 EPS 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 business had revenue of $438.30 million for the quarter, compared to analyst estimates of $430.70 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts expect that Vector Group Ltd. will post $0.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Wednesday, September 21st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.88%. Vector Group’s dividend payout ratio is currently 329.41%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Vector Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. TheStreet upgraded shares of Vector Group from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $27.00 target price on shares of Vector Group in a report on Tuesday, August 30th.
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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