Vector Group (NYSE:VGR) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Vector Group (NYSE:VGR – Get Rating) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Vector Group Trading Up 1.4 %

VGR opened at $12.10 on Tuesday. The firm has a market cap of $1.89 billion, a P/E ratio of 11.98 and a beta of 1.04. Vector Group has a 12 month low of $8.64 and a 12 month high of $14.39. The stock has a 50-day moving average of $12.87 and a 200 day moving average of $11.19.

Vector Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Friday, March 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date is Thursday, March 16th. Vector Group’s dividend payout ratio (DPR) is 79.21%.

Insider Transactions at Vector Group

In other Vector Group news, Director Bennett S. Lebow sold 175,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $11.32, for a total value of $1,981,000.00. Following the sale, the director now directly owns 789,778 shares of the company’s stock, valued at $8,940,286.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronald J. Bernstein sold 4,600 shares of Vector Group stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $14.15, for a total transaction of $65,090.00. Following the sale, the director now directly owns 33,030 shares in the company, valued at approximately $467,374.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bennett S. Lebow sold 175,000 shares of Vector Group stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,981,000.00. Following the completion of the transaction, the director now owns 789,778 shares in the company, valued at $8,940,286.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,074 shares of company stock valued at $3,466,351. Corporate insiders own 7.79% of the company’s stock.

Institutional Trading of Vector Group

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Vector Group by 0.8% during the third quarter. BlackRock Inc. now owns 20,791,985 shares of the company’s stock worth $183,177,000 after buying an additional 161,136 shares during the period. Vanguard Group Inc. increased its stake in Vector Group by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 17,140,300 shares of the company’s stock valued at $206,369,000 after buying an additional 673,806 shares during the period. Renaissance Technologies LLC boosted its position in shares of Vector Group by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 8,731,963 shares of the company’s stock valued at $91,686,000 after purchasing an additional 376,700 shares in the last quarter. State Street Corp boosted its holdings in shares of Vector Group by 1.1% in the third quarter. State Street Corp now owns 4,429,687 shares of the company’s stock worth $39,026,000 after buying an additional 48,684 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Vector Group by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,010,692 shares of the company’s stock worth $35,706,000 after purchasing an additional 84,738 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

About Vector Group

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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.