Vector Group (NYSE:VGR) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Vector Group (NYSE:VGR) in a research report report published on Sunday. The brokerage issued a strong-buy rating on the stock.

Separately, Barclays lifted their price objective on Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th.

Vector Group Price Performance

Shares of NYSE:VGR opened at $14.99 on Friday. The firm has a fifty day moving average price of $14.97 and a two-hundred day moving average price of $12.69. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04. Vector Group has a one year low of $9.27 and a one year high of $15.53.

Vector Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Friday, August 30th. Vector Group’s dividend payout ratio (DPR) is currently 68.97%.

Institutional Investors Weigh In On Vector Group

Hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Vector Group in the 2nd quarter worth approximately $59,000. ORG Partners LLC raised its stake 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 worth $66,000 after acquiring an additional 4,325 shares in the last quarter. Quarry LP raised its stake in shares of Vector Group by 112.6% during the second quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after acquiring an additional 5,110 shares in the last quarter. Somerset Trust Co bought a new stake in shares of Vector Group in the 2nd quarter worth approximately $110,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Vector Group in the 2nd quarter valued at $116,000. Institutional investors own 64.09% of the company’s stock.

Vector Group Company Profile

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.