Vector Group (NYSE:VGR) Sees Strong Trading Volume

Vector Group Ltd. (NYSE:VGR) saw unusually-high trading volume on Thursday . Approximately 1,478,922 shares changed hands during 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.

Analyst Ratings Changes

VGR has been the topic of several recent analyst reports. StockNews.com lowered shares of Vector Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Barclays increased their target price on shares of Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th.

Vector Group Price Performance

The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 13.05 and a beta of 1.03. The stock has a 50-day moving average price of $12.05 and a 200 day moving average price of $11.17.

Vector Group (NYSE:VGR) last released its quarterly 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 for the quarter, compared to analyst estimates of $362.90 million. Vector Group had a negative return on equity of 26.62% and a net margin of 14.05%. As a group, equities research analysts predict that Vector Group Ltd. will post 1.16 earnings per share for the current year.

Vector Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 5.29%. Vector Group’s dividend payout ratio (DPR) is 68.97%.

Hedge Funds Weigh In On Vector Group

A number of large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of Vector Group during the second quarter worth about $59,000. ORG Partners LLC raised its stake in shares of Vector Group by 252.3% during the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after buying an additional 4,325 shares in the last quarter. Quarry LP lifted its holdings in shares of Vector Group by 112.6% in the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after buying an additional 5,110 shares during the period. Private Portfolio Partners LLC purchased a new stake in shares of Vector Group in the fourth quarter valued at approximately $113,000. Finally, Somerset Trust Co purchased a new stake in shares of Vector Group in the second quarter valued at approximately $110,000. Hedge funds and other 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.