StockNews.com Initiates Coverage on Vector Group (NYSE:VGR)

StockNews.com started coverage on shares of Vector Group (NYSE:VGR) in a report released on Monday morning. The firm issued a strong-buy rating on the stock.

Separately, Barclays raised their target price on shares of Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th.

Vector Group Stock Performance

Shares of Vector Group stock opened at $14.99 on Monday. Vector Group has a fifty-two week low of $9.27 and a fifty-two week high of $15.53. The company has a fifty day moving average of $14.96 and a 200 day moving average of $12.97. The company has a market capitalization of $2.36 billion, a P/E ratio of 12.92 and a beta of 1.04.

Vector Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Friday, August 30th. Vector Group’s dividend payout ratio is presently 68.97%.

Hedge Funds Weigh In On Vector Group

Several institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new stake in shares of Vector Group in the 2nd quarter valued at approximately $59,000. ORG Partners LLC boosted its stake in 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 buying an additional 4,325 shares during the period. Quarry LP increased its position in Vector Group by 112.6% during the second quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $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 in the second quarter valued at $110,000. Finally, Rothschild Investment LLC bought a new stake in shares of Vector Group in the 2nd quarter worth about $116,000. 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.