Renaissance Technologies LLC Boosts Position in Vector Group Ltd (VGR)

Renaissance Technologies LLC increased its holdings in Vector Group Ltd (NYSE:VGR) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,005,893 shares of the company’s stock after buying an additional 313,120 shares during the quarter. Renaissance Technologies LLC owned 7.10% of Vector Group worth $137,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Vector Group during the 3rd quarter worth approximately $13,313,000. Engineers Gate Manager LP bought a new stake in Vector Group during the 3rd quarter worth approximately $2,465,000. Dimensional Fund Advisors LP raised its stake in Vector Group by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,945,170 shares of the company’s stock worth $40,584,000 after acquiring an additional 171,074 shares during the period. Bank of New York Mellon Corp raised its stake in Vector Group by 7.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,182,361 shares of the company’s stock worth $30,074,000 after acquiring an additional 145,162 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Vector Group by 168.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 211,837 shares of the company’s stock worth $4,042,000 after acquiring an additional 133,048 shares during the period. 49.08% of the stock is currently owned by institutional investors.

In other news, Director Bennett S. Lebow sold 100,000 shares of Vector Group stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $12.47, for a total transaction of $1,247,000.00. Following the sale, the director now owns 1,595,306 shares in the company, valued at $19,893,465.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Phillip Md Et Al Frost sold 765,000 shares of Vector Group stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $13.00, for a total transaction of $9,945,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,472,029 shares of company stock worth $46,576,002. Company insiders own 12.50% of the company’s stock.

A number of equities research analysts have commented on VGR shares. Zacks Investment Research cut shares of Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. UBS Group cut shares of Vector Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 3rd. Finally, Oppenheimer restated a “hold” rating on shares of Vector Group in a research note on Wednesday, November 7th.

Vector Group stock opened at $11.59 on Friday. The company has a market cap of $1.66 billion, a PE ratio of 26.42 and a beta of 0.27. Vector Group Ltd has a 1 year low of $11.57 and a 1 year high of $22.98.

Vector Group (NYSE:VGR) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $495.70 million. Vector Group had a net margin of 4.29% and a negative return on equity of 16.61%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, sell-side analysts expect that Vector Group Ltd will post 0.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 13.81%. The ex-dividend date of this dividend is Monday, December 17th. Vector Group’s payout ratio is currently 280.70%.

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Vector Group Profile

Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates through Tobacco, E-Cigarettes, and Real Estate segments. The company produces cigarettes in 109 combinations under the PYRAMID, EAGLE 20's, GRAND PRIX, LIGGETT SELECT, and EVE brand names, as well as USA and various partner brands, and private label brands.

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Institutional Ownership by Quarter for Vector Group (NYSE:VGR)

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