Amalgamated Bank Acquires 387 Shares of Vector Group Ltd. (VGR)
Amalgamated Bank raised its holdings in Vector Group Ltd. (NYSE:VGR) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,932 shares of the company’s stock after acquiring an additional 387 shares during the quarter. Amalgamated Bank’s holdings in Vector Group were worth $254,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in VGR. TIAA CREF Investment Management LLC raised its holdings in Vector Group by 83.9% in the second quarter. TIAA CREF Investment Management LLC now owns 460,071 shares of the company’s stock worth $9,809,000 after purchasing an additional 209,830 shares during the period. Teachers Advisors LLC raised its holdings in Vector Group by 5.9% in the second quarter. Teachers Advisors LLC now owns 827,950 shares of the company’s stock worth $17,652,000 after purchasing an additional 45,997 shares during the period. Martingale Asset Management L P raised its holdings in Vector Group by 33.8% in the second quarter. Martingale Asset Management L P now owns 223,524 shares of the company’s stock worth $4,766,000 after purchasing an additional 56,500 shares during the period. Alliancebernstein L.P. raised its holdings in Vector Group by 91.0% in the second quarter. Alliancebernstein L.P. now owns 260,903 shares of the company’s stock worth $5,562,000 after purchasing an additional 124,290 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Vector Group by 15.2% in the second quarter. JPMorgan Chase & Co. now owns 9,781 shares of the company’s stock worth $209,000 after purchasing an additional 1,289 shares during the period. 45.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vector Group Ltd. (NYSE:VGR) opened at 20.87 on Friday. The firm has a 50-day moving average of $20.55 and a 200 day moving average of $20.32. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 59.29 and a beta of 0.44. Vector Group Ltd. has a 12-month low of $18.70 and a 12-month high of $22.13.
Vector Group (NYSE:VGR) last issued its 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. The business had revenue of $472.00 million for the quarter, compared to analyst estimates of $449.40 million. Vector Group had a net margin of 2.86% and a negative return on equity of 36.72%. Vector Group’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, equities research analysts expect that Vector Group Ltd. will post $0.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 20th were paid 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 7.67%. Vector Group’s dividend payout ratio is currently 430.78%.
Several equities research analysts have weighed in on VGR shares. TheStreet lowered shares of Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Vector Group from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, BidaskClub lowered shares of Vector Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th.
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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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