Rhumbline Advisers increased its position in shares of Vector Group Ltd (NYSE:VGR) by 86.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 254,144 shares of the company’s stock after acquiring an additional 117,790 shares during the period. Rhumbline Advisers’ holdings in Vector Group were worth $3,027,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of VGR. ETF Managers Group LLC acquired a new position in Vector Group during the second quarter worth $19,028,000. Invesco Ltd. raised its holdings in shares of Vector Group by 27.8% in the second quarter. Invesco Ltd. now owns 3,899,300 shares of the company’s stock worth $38,018,000 after acquiring an additional 849,163 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Vector Group in the second quarter worth $4,181,000. BlackRock Inc. raised its holdings in shares of Vector Group by 4.0% in the second quarter. BlackRock Inc. now owns 10,815,959 shares of the company’s stock worth $105,455,000 after acquiring an additional 415,568 shares during the last quarter. Finally, Man Group plc raised its holdings in shares of Vector Group by 19.3% in the second quarter. Man Group plc now owns 1,900,035 shares of the company’s stock worth $18,525,000 after acquiring an additional 307,220 shares during the last quarter. 52.78% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. ValuEngine raised Vector Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Zacks Investment Research raised Vector Group from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Friday.
Vector Group (NYSE:VGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.10. Vector Group had a negative return on equity of 21.00% and a net margin of 5.83%. The company had revenue of $504.79 million during the quarter, compared to analysts’ expectations of $526.50 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts expect that Vector Group Ltd will post 0.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Tuesday, December 17th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 13.68%. Vector Group’s payout ratio is currently 290.91%.
Vector Group Company Profile
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 109 combinations under the Pyramid, EAGLE 20's, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.
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