Vector Group (NYSE:VGR) Sees Large Volume Increase

Vector Group Ltd. (NYSE:VGR - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 1,478,922 shares changed hands during mid-day trading, an increase of 16% from the previous session's volume of 1,273,131 shares.The stock last traded at $15.10 and had previously closed at $15.13.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com upgraded Vector Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, July 25th. Barclays boosted their price objective on Vector Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th.

Vector Group Stock Up 0.1 %

The company's 50-day moving average is $11.96 and its 200-day moving average is $11.14. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 13.06 and a beta of 1.03.

Vector Group (NYSE:VGR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. The business had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. Vector Group had a net margin of 14.05% and a negative return on equity of 26.62%. Sell-side analysts anticipate that Vector Group Ltd. will post 1.16 EPS for the current year.

Vector Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Friday, August 30th. Vector Group's dividend payout ratio (DPR) is presently 68.97%.

Institutional Trading of Vector Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of Vector Group by 0.5% in the second 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 in the last quarter. Rhumbline Advisers grew its holdings in shares of Vector Group by 0.3% in the second quarter. Rhumbline Advisers now owns 357,738 shares of the company's stock valued at $3,781,000 after purchasing an additional 1,020 shares in the last quarter. Arizona State Retirement System increased its stake in Vector Group by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 39,729 shares of the company's stock worth $420,000 after buying an additional 1,160 shares during the period. QRG Capital Management Inc. increased its stake in Vector Group by 8.3% during the 2nd quarter. QRG Capital Management Inc. now owns 16,157 shares of the company's stock worth $171,000 after buying an additional 1,238 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Vector Group by 3.1% during the 2nd quarter. Natixis Advisors LLC now owns 44,984 shares of the company's stock worth $475,000 after buying an additional 1,346 shares in the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

Vector Group Company Profile

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.