Gateway Investment Advisers LLC Boosts Position in Vector Group Ltd. (NYSE:VGR)
Gateway Investment Advisers LLC increased its position in Vector Group Ltd. (NYSE:VGR) by 21.8% during the second quarter, Holdings Channel reports. The institutional investor owned 212,474 shares of the company’s stock after buying an additional 38,086 shares during the period. Gateway Investment Advisers LLC’s holdings in Vector Group were worth $4,530,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of VGR. Renaissance Technologies LLC increased its stake in Vector Group by 14.3% in the first quarter. Renaissance Technologies LLC now owns 7,542,903 shares of the company’s stock worth $156,892,000 after buying an additional 942,683 shares in the last quarter. Acadian Asset Management LLC increased its stake in Vector Group by 115.6% in the first quarter. Acadian Asset Management LLC now owns 1,353,262 shares of the company’s stock worth $28,148,000 after buying an additional 725,533 shares in the last quarter. Vanguard Group Inc. increased its stake in Vector Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 8,657,511 shares of the company’s stock worth $180,077,000 after buying an additional 288,771 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Vector Group during the first quarter worth about $4,577,000. Finally, TCW Group Inc. bought a new stake in Vector Group during the first quarter worth about $4,251,000. 46.98% of the stock is owned by institutional investors.
Shares of Vector Group Ltd. (NYSE VGR) opened at 21.05 on Monday. The company has a market capitalization of $2.72 billion, a P/E ratio of 57.05 and a beta of 0.47. Vector Group Ltd. has a 1-year low of $19.79 and a 1-year high of $23.24. The firm has a 50-day moving average of $21.70 and a 200 day moving average of $21.78.
Vector Group (NYSE:VGR) last issued its quarterly earnings data on Friday, May 5th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Vector Group had a net margin of 2.76% and a negative return on equity of 37.58%. The business had revenue of $415.20 million during the quarter, compared to analysts’ expectations of $369.60 million. During the same period last year, the company posted $0.16 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Vector Group Ltd. will post $0.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Tuesday, June 20th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.60%. Vector Group’s payout ratio is currently 420.53%.
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A number of analysts have recently issued reports on VGR shares. Zacks Investment Research raised shares of Vector Group from a “sell” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, May 3rd. BidaskClub downgraded shares of Vector Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th.
In other Vector Group news, insider Howard M. Lorber sold 226,834 shares of Vector Group stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $21.36, for a total value of $4,845,174.24. Following the completion of the transaction, the insider now directly owns 436,665 shares of the company’s stock, valued at approximately $9,327,164.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.90% of the company’s stock.
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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