Martingale Asset Management L P Has $4.77 Million Position in Vector Group Ltd. (VGR)
Martingale Asset Management L P increased its stake in shares of Vector Group Ltd. (NYSE:VGR) by 33.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,524 shares of the company’s stock after purchasing an additional 56,500 shares during the period. Martingale Asset Management L P owned approximately 0.17% of Vector Group worth $4,766,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in shares of Vector Group by 1.1% during the second quarter. IFP Advisors Inc now owns 13,467 shares of the company’s stock worth $287,000 after purchasing an additional 142 shares during the period. Legal & General Group Plc lifted its holdings in Vector Group by 1.2% during the second quarter. Legal & General Group Plc now owns 32,495 shares of the company’s stock worth $692,000 after acquiring an additional 376 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Vector Group by 4.4% during the second quarter. Prudential Financial Inc. now owns 11,078 shares of the company’s stock worth $236,000 after acquiring an additional 470 shares in the last quarter. Blue Fin Capital Inc. lifted its holdings in Vector Group by 3.0% during the second quarter. Blue Fin Capital Inc. now owns 17,273 shares of the company’s stock worth $368,000 after acquiring an additional 500 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Vector Group by 0.6% during the second quarter. Rhumbline Advisers now owns 95,225 shares of the company’s stock worth $2,030,000 after acquiring an additional 525 shares in the last quarter. 47.68% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on VGR. Zacks Investment Research lowered Vector Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. BidaskClub lowered Vector Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, TheStreet lowered Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th.
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Shares of Vector Group Ltd. (NYSE VGR) opened at 21.79 on Thursday. Vector Group Ltd. has a 52 week low of $19.63 and a 52 week high of $23.24. The company has a market capitalization of $2.81 billion, a PE ratio of 58.89 and a beta of 0.45. The company has a 50 day moving average price of $21.14 and a 200 day moving average price of $21.26.
Vector Group (NYSE:VGR) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. Vector Group had a net margin of 2.86% and a negative return on equity of 36.72%. The company had revenue of $472.00 million during the quarter, compared to analyst estimates of $449.40 million. During the same quarter last year, the business posted $0.20 EPS. Vector Group’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Vector Group Ltd. will post $0.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $1.60 annualized dividend and a dividend yield of 7.34%. This is a positive change from Vector Group’s previous quarterly dividend of $0.38. Vector Group’s dividend payout ratio (DPR) is presently 410.26%.
Vector Group Company Profile
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
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