Vector Group (NYSE:VGR) Sets New 52-Week Low at $9.02

Vector Group Ltd. (NYSE:VGRGet Rating)’s stock price reached a new 52-week low on Friday . The stock traded as low as $9.02 and last traded at $9.02, with a volume of 2895 shares trading hands. The stock had previously closed at $9.20.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com raised Vector Group from a “hold” rating to a “buy” rating in a research note on Friday, August 26th. Barclays cut their price target on Vector Group from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, June 17th.

Vector Group Price Performance

The company has a market capitalization of $1.38 billion, a P/E ratio of 8.60 and a beta of 1.05. The stock has a 50-day moving average price of $10.28 and a 200-day moving average price of $11.11.

Vector Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.96%. Vector Group’s dividend payout ratio (DPR) is 74.77%.

Insiders Place Their Bets

In related news, Director Ronald J. Bernstein sold 10,000 shares of Vector Group stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $10.55, for a total transaction of $105,500.00. Following the transaction, the director now owns 52,630 shares of the company’s stock, valued at $555,246.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Vector Group

A number of hedge funds and other institutional investors have recently made changes to their positions in VGR. Antonetti Capital Management LLC boosted its holdings in shares of Vector Group by 54.5% in the 1st quarter. Antonetti Capital Management LLC now owns 2,808 shares of the company’s stock worth $34,000 after purchasing an additional 991 shares in the last quarter. First Quadrant LLC CA bought a new position in Vector Group during the 1st quarter valued at approximately $39,000. Chilton Capital Management LLC purchased a new stake in Vector Group during the 2nd quarter valued at $54,000. Point72 Hong Kong Ltd purchased a new stake in Vector Group during the 2nd quarter valued at $90,000. Finally, Macquarie Group Ltd. boosted its stake in Vector Group by 45.7% during the 2nd quarter. Macquarie Group Ltd. now owns 10,098 shares of the company’s stock valued at $106,000 after purchasing an additional 3,165 shares during the last quarter. 64.01% of the stock is currently owned by institutional investors.

Vector Group Company Profile

(Get Rating)

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 100 combinations under the EAGLE 20's, Pyramid, Montego, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.

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