New York Life Investment Management LLC Takes Position in Vector Group Ltd. (NYSE:VGR)

Posted by Defense World Staff on Aug 17th, 2023

New York Life Investment Management LLC acquired a new stake in shares of Vector Group Ltd. (NYSE:VGR – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 39,799 shares of the company’s stock, valued at approximately $478,000.

Several other institutional investors also recently made changes to their positions in the stock. Boston Partners boosted its position in Vector Group by 1,632.3% during the 4th quarter. Boston Partners now owns 1,803,073 shares of the company’s stock worth $21,787,000 after purchasing an additional 1,698,986 shares during the period. Goldman Sachs Group Inc. boosted its position in Vector Group by 239.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,451,368 shares of the company’s stock worth $17,474,000 after purchasing an additional 1,024,249 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Vector Group by 1,509.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,026,410 shares of the company’s stock worth $12,327,000 after purchasing an additional 962,623 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in Vector Group during the 4th quarter worth $10,533,000. Finally, Vanguard Group Inc. boosted its position in Vector Group by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 17,140,300 shares of the company’s stock worth $206,369,000 after purchasing an additional 673,806 shares during the period. 63.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Vector Group from a “hold” rating to a “buy” rating in a report on Tuesday.

Check Out Our Latest Stock Report on Vector Group

Vector Group Price Performance

Shares of VGR stock opened at $10.60 on Thursday. Vector Group Ltd. has a 12 month low of $8.64 and a 12 month high of $14.39. The firm has a market capitalization of $1.65 billion, a P/E ratio of 10.49 and a beta of 1.06. The company’s fifty day moving average price is $12.57 and its two-hundred day moving average price is $12.49.

Vector Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Tuesday, June 20th were issued a $0.20 dividend. The ex-dividend date was Friday, June 16th. This represents a $0.80 dividend on an annualized basis and a yield of 7.55%. Vector Group’s dividend payout ratio is currently 79.21%.

Insider Activity

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

About Vector Group

(Free Report)

Vector Group Ltd. is a holding company, which engages in the distribution of tobacco products. It operates through the following segments: Tobacco, Real Estate, and Corporate and Other. The Tobacco segment consists of the manufacturing and sale of cigarettes. The Real Estate segment includes the acquisition and investments in real estate properties and projects.