Raymond James & Associates cut its holdings in shares of Vector Group Ltd (NYSE:VGR) by 32.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,559 shares of the company’s stock after selling 13,114 shares during the period. Raymond James & Associates’ holdings in Vector Group were worth $268,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Alliancebernstein L.P. raised its stake in shares of Vector Group by 4.5% in the third quarter. Alliancebernstein L.P. now owns 133,384 shares of the company’s stock valued at $1,838,000 after acquiring an additional 5,725 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Vector Group by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 2,182,361 shares of the company’s stock valued at $30,074,000 after acquiring an additional 145,162 shares during the period. Martingale Asset Management L P raised its stake in shares of Vector Group by 20.7% in the third quarter. Martingale Asset Management L P now owns 294,426 shares of the company’s stock valued at $4,058,000 after acquiring an additional 50,508 shares during the period. Virtu Financial LLC raised its stake in shares of Vector Group by 72.5% in the third quarter. Virtu Financial LLC now owns 19,549 shares of the company’s stock valued at $269,000 after acquiring an additional 8,217 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Vector Group by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,945,170 shares of the company’s stock valued at $40,584,000 after acquiring an additional 171,074 shares during the period. Institutional investors own 55.47% of the company’s stock.
Several brokerages have recently weighed in on VGR. Oppenheimer reissued a “hold” rating on shares of Vector Group in a research note on Thursday, February 28th. Zacks Investment Research raised shares of Vector Group from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, January 30th.
Vector Group (NYSE:VGR) last posted its quarterly earnings results on Thursday, February 28th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.09. Vector Group had a net margin of 3.11% and a negative return on equity of 18.85%. As a group, analysts forecast that Vector Group Ltd will post 0.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 15.40%. The ex-dividend date of this dividend was Monday, March 18th. Vector Group’s dividend payout ratio is presently 275.86%.
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About Vector Group
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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