Allspring Global Investments Holdings LLC Sells 63,150 Shares of Vector Group Ltd. (NYSE:VGR)

Allspring Global Investments Holdings LLC trimmed its stake in Vector Group Ltd. (NYSE:VGR) by 41.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,539 shares of the company’s stock after selling 63,150 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Vector Group worth $1,021,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CWM LLC raised its position in shares of Vector Group by 51.9% in the 3rd quarter. CWM LLC now owns 2,892 shares of the company’s stock worth $31,000 after acquiring an additional 988 shares in the last quarter. Quantbot Technologies LP purchased a new position in Vector Group during the 3rd quarter worth $43,000. Antonetti Capital Management LLC grew its stake in Vector Group by 34.6% during the 3rd quarter. Antonetti Capital Management LLC now owns 5,840 shares of the company’s stock worth $62,000 after buying an additional 1,500 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Vector Group during the 3rd quarter worth $68,000. Finally, Covestor Ltd grew its stake in Vector Group by 16.8% during the 3rd quarter. Covestor Ltd now owns 9,902 shares of the company’s stock worth $106,000 after buying an additional 1,424 shares during the last quarter. 64.09% of the stock is owned by institutional investors.

Vector Group Stock Performance

Vector Group stock opened at $10.45 on Wednesday. The business’s 50-day simple moving average is $10.77 and its two-hundred day simple moving average is $10.80. The company has a market cap of $1.65 billion, a PE ratio of 9.01 and a beta of 1.02. Vector Group Ltd. has a fifty-two week low of $9.80 and a fifty-two week high of $13.43.

Vector Group (NYSE:VGR) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $360.35 million for the quarter, compared to the consensus estimate of $357.60 million. Vector Group had a negative return on equity of 24.93% and a net margin of 12.89%. As a group, analysts predict that Vector Group Ltd. will post 1.24 EPS for the current fiscal year.

Vector Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.80 annualized dividend and a yield of 7.66%. Vector Group’s payout ratio is presently 68.97%.

Analysts Set New Price Targets

Several research analysts recently weighed in on VGR shares. StockNews.com upgraded Vector Group from a “hold” rating to a “buy” rating in a research note on Tuesday, December 26th. TheStreet downgraded Vector Group from a “b-” rating to a “c+” rating in a research note on Thursday, December 28th.

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.