International Assets Investment Management LLC Grows Stake in Vector Group Ltd. (NYSE:VGR)

International Assets Investment Management LLC raised its stake in Vector Group Ltd. (NYSE:VGR) by 2,284.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,851 shares of the company’s stock after purchasing an additional 38,180 shares during the quarter. International Assets Investment Management LLC’s holdings in Vector Group were worth $595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Vector Group during the second quarter worth about $59,000. ORG Partners LLC increased its position in shares of Vector Group by 252.3% during the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after acquiring an additional 4,325 shares during the last quarter. Quarry LP increased its position in shares of Vector Group by 112.6% during the second quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after acquiring an additional 5,110 shares during the last quarter. Somerset Trust Co purchased a new stake in shares of Vector Group during the second quarter worth about $110,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Vector Group during the second quarter worth about $116,000. 64.09% of the stock is owned by hedge funds and other institutional investors.

Vector Group Stock Performance

VGR stock opened at $14.99 on Wednesday. The stock’s 50 day simple moving average is $14.97 and its 200 day simple moving average is $12.74. Vector Group Ltd. has a 12-month low of $9.27 and a 12-month high of $15.53. The firm has a market cap of $2.36 billion, a P/E ratio of 12.92 and a beta of 1.04.

Vector Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 30th were issued 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 dividend yield of 5.34%. Vector Group’s dividend payout ratio (DPR) is 68.97%.

Analysts Set New Price Targets

VGR has been the topic of a number of analyst reports. StockNews.com initiated coverage on Vector Group in a research report on Sunday. They set a “strong-buy” rating on the stock. Barclays lifted their target price on Vector Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th.

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.