PNC Financial Services Group Inc. Maintains Holdings in Vector Group Ltd. (VGR)
PNC Financial Services Group Inc. maintained its stake in shares of Vector Group Ltd. (NYSE:VGR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,214 shares of the company’s stock at the end of the second quarter. PNC Financial Services Group Inc.’s holdings in Vector Group were worth $1,113,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of VGR. Ameritas Investment Partners Inc. bought a new position in Vector Group in the 1st quarter valued at approximately $167,000. Waldron LP bought a new position in Vector Group in the 1st quarter valued at approximately $202,000. JPMorgan Chase & Co. lifted its stake in Vector Group by 15.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,781 shares of the company’s stock valued at $209,000 after purchasing an additional 1,289 shares during the last quarter. Prudential Financial Inc. lifted its stake in Vector Group by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 11,078 shares of the company’s stock valued at $236,000 after purchasing an additional 470 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Vector Group by 3.4% in the 2nd quarter. Amalgamated Bank now owns 11,932 shares of the company’s stock valued at $254,000 after purchasing an additional 387 shares during the last quarter. 45.35% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on VGR. Zacks Investment Research downgraded shares of Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. TheStreet downgraded shares of Vector Group from a “b-” rating to a “c+” rating in a research note on Thursday, July 27th. Finally, BidaskClub downgraded shares of Vector Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th.
Vector Group Ltd. (NYSE:VGR) opened at 20.44 on Monday. The company has a market cap of $2.76 billion, a P/E ratio of 58.07 and a beta of 0.44. The company has a 50-day moving average of $20.47 and a 200 day moving average of $20.26. Vector Group Ltd. has a 52 week low of $18.70 and a 52 week high of $22.13.
Vector Group (NYSE:VGR) last announced its earnings results on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $472.00 million during the quarter, compared to analyst estimates of $449.40 million. During the same period in the previous year, the business posted $0.20 earnings per share. Vector Group’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Vector Group Ltd. will post $0.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 20th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This is a positive change from Vector Group’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 7.83%. Vector Group’s payout ratio is presently 430.78%.
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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