Bank of New York Mellon Corp Has $38.87 Million Stake in Vector Group Ltd (VGR)

Bank of New York Mellon Corp cut its position in Vector Group Ltd (NYSE:VGR) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,037,199 shares of the company’s stock after selling 220,619 shares during the quarter. Bank of New York Mellon Corp owned 1.52% of Vector Group worth $38,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Global X Management Co LLC boosted its stake in shares of Vector Group by 0.4% in the second quarter. Global X Management Co LLC now owns 870,411 shares of the company’s stock valued at $16,607,000 after purchasing an additional 3,777 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Vector Group by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 751,647 shares of the company’s stock valued at $14,342,000 after purchasing an additional 47,129 shares during the period. Martingale Asset Management L P boosted its stake in shares of Vector Group by 2.3% in the second quarter. Martingale Asset Management L P now owns 243,918 shares of the company’s stock valued at $4,654,000 after purchasing an additional 5,400 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Vector Group by 168.9% in the second quarter. Commonwealth Equity Services LLC now owns 211,837 shares of the company’s stock valued at $4,042,000 after purchasing an additional 133,048 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Vector Group by 154.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 204,040 shares of the company’s stock valued at $3,893,000 after purchasing an additional 123,950 shares during the period. Institutional investors and hedge funds own 47.40% of the company’s stock.

In other Vector Group news, major shareholder Phillip Md Et Al Frost sold 145,609 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $14.19, for a total transaction of $2,066,191.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Howard M. Lorber sold 700,000 shares of the stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $14.18, for a total transaction of $9,926,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,405,609 shares of company stock worth $19,780,392 over the last quarter. 12.50% of the stock is currently owned by insiders.

NYSE VGR opened at $13.59 on Friday. Vector Group Ltd has a 12 month low of $12.56 and a 12 month high of $23.14. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 23.84 and a beta of 0.29.

Vector Group (NYSE:VGR) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. Vector Group had a net margin of 4.29% and a negative return on equity of 16.61%. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $495.70 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Vector Group Ltd will post 0.52 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on VGR. Oppenheimer restated a “hold” rating on shares of Vector Group in a research note on Wednesday, November 7th. Zacks Investment Research upgraded shares of Vector Group from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. UBS Group downgraded shares of Vector Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 3rd. Finally, ValuEngine downgraded shares of Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th.

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About Vector Group

Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates through Tobacco, E-Cigarettes, and Real Estate segments. The company produces cigarettes in 109 combinations under the PYRAMID, EAGLE 20's, GRAND PRIX, LIGGETT SELECT, and EVE brand names, as well as USA and various partner brands, and private label brands.

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Institutional Ownership by Quarter for Vector Group (NYSE:VGR)

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