Vector Group Ltd. (NYSE:VGR) Stock Position Lifted by Texas Permanent School Fund Corp

Posted by Defense World Staff on Aug 1st, 2023

Texas Permanent School Fund Corp lifted its holdings in Vector Group Ltd. (NYSE:VGR – Free Report) by 34.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,365 shares of the company’s stock after purchasing an additional 29,871 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Vector Group worth $1,398,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Vector Group by 3,686.0% in the fourth quarter. Parallel Advisors LLC now owns 3,256 shares of the company’s stock valued at $39,000 after buying an additional 3,170 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Vector Group in the second quarter valued at $90,000. Advisor Partners II LLC acquired a new stake in shares of Vector Group in the fourth quarter valued at $119,000. Macquarie Group Ltd. lifted its holdings in shares of Vector Group by 45.7% in the second quarter. Macquarie Group Ltd. now owns 10,098 shares of the company’s stock valued at $106,000 after buying an additional 3,165 shares during the period. Finally, Quantedge Capital Pte Ltd acquired a new stake in shares of Vector Group in the first quarter valued at $123,000. Institutional investors own 63.28% of the company’s stock.

Insider Buying and Selling

In related news, Director Bennett S. Lebow sold 80,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $12.93, for a total value of $1,034,400.00. Following the completion of the sale, the director now directly owns 267,304 shares of the company’s stock, valued at approximately $3,456,240.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.14% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Vector Group in a report on Thursday, May 18th. They issued a “buy” rating for the company.

Vector Group Stock Up 0.3 %

Shares of NYSE VGR opened at $13.12 on Tuesday. Vector Group Ltd. has a 12 month low of $8.64 and a 12 month high of $14.39. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 12.86 and a beta of 1.05. The business has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $12.56.

Vector Group (NYSE:VGR – Get Free Report) last announced its earnings results on Monday, May 8th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Vector Group had a net margin of 11.00% and a negative return on equity of 19.68%. The company had revenue of $334.15 million for the quarter, compared to analysts’ expectations of $334.00 million. As a group, sell-side analysts expect that Vector Group Ltd. will post 1.19 EPS for the current fiscal year.

Vector Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Tuesday, June 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.10%. The ex-dividend date was Friday, June 16th. Vector Group’s dividend payout ratio is currently 78.43%.

Vector Group Company Profile

(Free Report)

Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the EAGLE 20's, Pyramid, Montego, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.