Point72 DIFC Ltd Increases Holdings in Vector Group Ltd. (NYSE:VGR)

Point72 DIFC Ltd grew its holdings in Vector Group Ltd. (NYSE:VGR) by 48.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,705 shares of the company’s stock after buying an additional 4,498 shares during the quarter. Point72 DIFC Ltd’s holdings in Vector Group were worth $145,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in shares of Vector Group during the 2nd quarter valued at $59,000. ORG Partners LLC lifted its holdings in shares of Vector Group by 252.3% during the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after purchasing an additional 4,325 shares during the last quarter. Quarry LP boosted its position in shares of Vector Group by 112.6% in the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after purchasing an additional 5,110 shares in the last quarter. Somerset Trust Co bought a new position in Vector Group during the 2nd quarter valued at approximately $110,000. Finally, SpiderRock Advisors LLC bought a new stake in Vector Group in the first quarter worth $112,000. 64.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VGR has been the topic of a number of analyst reports. Barclays upped their price target on shares of Vector Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. StockNews.com began coverage on shares of Vector Group in a report on Wednesday. They issued a “buy” rating for the company.

Vector Group Stock Down 0.0 %

Shares of NYSE VGR opened at $14.92 on Wednesday. The firm’s 50-day moving average price is $14.27 and its 200-day moving average price is $11.98. Vector Group Ltd. has a 52-week low of $9.27 and a 52-week high of $15.53. The company has a market cap of $2.35 billion, a PE ratio of 12.86 and a beta of 1.04.

Vector Group (NYSE:VGR) last posted its earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. As a group, equities research analysts anticipate that Vector Group Ltd. will post 1.22 EPS for the current fiscal year.

Vector Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 5.36%. Vector Group’s payout ratio is 68.97%.

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.