Bank of Nova Scotia Buys New Stake in Vector Group Ltd. (VGR)

Bank of Nova Scotia bought a new stake in Vector Group Ltd. (NYSE:VGR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 573,700 shares of the company’s stock, valued at approximately $12,230,000. Bank of Nova Scotia owned approximately 0.45% of Vector Group at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc increased its position in Vector Group by 1.1% in the 2nd quarter. IFP Advisors Inc now owns 13,467 shares of the company’s stock valued at $287,000 after buying an additional 142 shares in the last quarter. Legal & General Group Plc increased its position in Vector Group by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 32,495 shares of the company’s stock valued at $692,000 after buying an additional 376 shares in the last quarter. Amalgamated Bank increased its position in Vector Group by 3.4% in the 2nd quarter. Amalgamated Bank now owns 11,932 shares of the company’s stock valued at $254,000 after buying an additional 387 shares in the last quarter. Prudential Financial Inc. increased its position in Vector Group by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 11,078 shares of the company’s stock valued at $236,000 after buying an additional 470 shares in the last quarter. Finally, Blue Fin Capital Inc. increased its position in Vector Group by 3.0% in the 2nd quarter. Blue Fin Capital Inc. now owns 17,273 shares of the company’s stock valued at $368,000 after buying an additional 500 shares in the last quarter. 45.35% of the stock is owned by institutional investors and hedge funds.

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Shares of Vector Group Ltd. (NYSE:VGR) traded up 0.58% during mid-day trading on Friday, reaching $20.96. The company’s stock had a trading volume of 54,881 shares. Vector Group Ltd. has a 12 month low of $18.70 and a 12 month high of $22.13. The company has a market cap of $2.83 billion, a P/E ratio of 59.55 and a beta of 0.44. The company has a 50-day moving average of $20.53 and a 200-day moving average of $20.31.

Vector Group (NYSE:VGR) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $472.00 million during the quarter, compared to the consensus estimate of $449.40 million. Vector Group had a net margin of 2.86% and a negative return on equity of 36.72%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. Equities research analysts forecast that Vector Group Ltd. will post $0.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 20th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $1.60 annualized dividend and a dividend yield of 7.68%. This is an increase from Vector Group’s previous quarterly dividend of $0.38. Vector Group’s dividend payout ratio (DPR) is 430.78%.

A number of brokerages have commented on VGR. BidaskClub raised Vector Group from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research lowered Vector Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, TheStreet lowered Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th.

About Vector Group

Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.

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

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