Vector Group (NYSE:VGR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Vector Group (NYSE:VGR) in a research note released on Friday. The brokerage issued a strong-buy rating on the stock.

Separately, Barclays boosted their price target on Vector Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th.

Vector Group Stock Performance

NYSE:VGR opened at $14.99 on Friday. The stock has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $12.35. The company has a market cap of $2.36 billion, a PE ratio of 12.92 and a beta of 1.04. Vector Group has a 52-week low of $9.27 and a 52-week high of $15.53.

Vector Group (NYSE:VGR) last issued its earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. On average, research analysts predict that Vector Group will post 1.22 earnings per share for the current fiscal year.

Vector Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 30th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 5.34%. Vector Group’s dividend payout ratio is currently 68.97%.

Institutional Investors Weigh In On Vector Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of Vector Group by 0.5% in the 2nd quarter. Federated Hermes Inc. now owns 183,913 shares of the company’s stock valued at $1,944,000 after buying an additional 935 shares during the last quarter. Rhumbline Advisers grew its position in shares of Vector Group by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 357,738 shares of the company’s stock valued at $3,781,000 after buying an additional 1,020 shares during the last quarter. Arizona State Retirement System grew its position in shares of Vector Group by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 39,729 shares of the company’s stock valued at $420,000 after buying an additional 1,160 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Vector Group by 8.3% in the 2nd quarter. QRG Capital Management Inc. now owns 16,157 shares of the company’s stock valued at $171,000 after buying an additional 1,238 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Vector Group by 3.1% in the 2nd quarter. Natixis Advisors LLC now owns 44,984 shares of the company’s stock valued at $475,000 after buying an additional 1,346 shares during the last quarter. Institutional investors own 64.09% of the company’s stock.

About Vector Group

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.