National Planning Corp Decreases Position in Vector Group Ltd. (NYSE:VGR)
National Planning Corp reduced its stake in shares of Vector Group Ltd. (NYSE:VGR) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 47,906 shares of the company’s stock after selling 603 shares during the period. National Planning Corp’s holdings in Vector Group were worth $1,014,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. KCG Holdings Inc. boosted its stake in Vector Group by 15.3% in the first quarter. KCG Holdings Inc. now owns 17,097 shares of the company’s stock valued at $356,000 after buying an additional 2,266 shares during the period. Suntrust Banks Inc. boosted its stake in Vector Group by 9.4% in the first quarter. Suntrust Banks Inc. now owns 92,685 shares of the company’s stock valued at $1,927,000 after buying an additional 7,963 shares during the period. Navellier & Associates Inc boosted its stake in Vector Group by 4.8% in the first quarter. Navellier & Associates Inc now owns 16,777 shares of the company’s stock valued at $349,000 after buying an additional 775 shares during the period. Karp Capital Management Corp bought a new stake in Vector Group during the first quarter valued at about $1,482,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Vector Group by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 525,579 shares of the company’s stock valued at $10,933,000 after buying an additional 30,491 shares during the period. 47.18% of the stock is owned by institutional investors.
Shares of Vector Group Ltd. (VGR) opened at 21.14 on Friday. Vector Group Ltd. has a 52-week low of $19.63 and a 52-week high of $23.24. The firm has a 50-day moving average of $21.02 and a 200 day moving average of $21.45. The stock has a market capitalization of $2.72 billion, a PE ratio of 57.14 and a beta of 0.46.
Vector Group (NYSE:VGR) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $472 million during the quarter, compared to analysts’ expectations of $449.40 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts forecast that Vector Group Ltd. will post $0.67 EPS for the current fiscal year.
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Several equities research analysts have 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 research report on Wednesday, May 3rd. BidaskClub cut shares of Vector Group from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, TheStreet cut shares of Vector Group from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th.
In other Vector Group news, insider Howard M. Lorber sold 226,834 shares of Vector Group stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $21.36, for a total transaction of $4,845,174.24. Following the completion of the sale, the insider now directly owns 436,665 shares in the company, valued at $9,327,164.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.90% of the stock is owned by company insiders.
About Vector Group
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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