Vector Group Ltd. (NYSE:VGR) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its stake in shares of Vector Group Ltd. (NYSE:VGR) by 9.8% during the third quarter, HoldingsChannel.com reports. The firm owned 116,050 shares of the company’s stock after selling 12,612 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Vector Group were worth $1,731,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in Vector Group during the second quarter worth about $59,000. ORG Partners LLC raised its holdings 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 purchasing an additional 4,325 shares during the last quarter. Quarry LP grew its holdings in Vector Group by 112.6% in the second quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after purchasing an additional 5,110 shares during the last quarter. Somerset Trust Co purchased a new position in shares of Vector Group in the second quarter valued at $110,000. Finally, SpiderRock Advisors LLC acquired a new position in shares of Vector Group during the 1st quarter worth $112,000. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Vector Group Price Performance

NYSE VGR opened at $14.99 on Friday. Vector Group Ltd. has a fifty-two week low of $9.27 and a fifty-two week high of $15.53. The business has a fifty day moving average of $14.94 and a 200-day moving average of $12.50. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04.

Vector Group (NYSE:VGR) last announced its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. The firm had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. As a group, analysts anticipate that Vector Group Ltd. will post 1.22 EPS for the current year.

Vector Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VGR. Barclays increased their price objective 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. StockNews.com began coverage on shares of Vector Group in a research report on Saturday. They issued a “strong-buy” rating on the stock.

Vector Group Company Profile

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.