Cornercap Investment Counsel Inc. Decreases Stock Holdings in Vector Group Ltd. (NYSE:VGR)

Cornercap Investment Counsel Inc. reduced its position in shares of Vector Group Ltd. (NYSE:VGR) by 44.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,245 shares of the company’s stock after selling 18,591 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Vector Group were worth $347,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Vector Group during the 2nd quarter worth $59,000. ORG Partners LLC increased its stake in Vector Group by 252.3% in the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after purchasing an additional 4,325 shares during the period. Quarry LP increased its stake 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 period. Somerset Trust Co acquired a new position in Vector Group in the second quarter valued at $110,000. Finally, Rothschild Investment LLC acquired a new position in Vector Group in the second quarter valued at $116,000. 64.09% of the stock is owned by hedge funds and other institutional investors.

Vector Group Stock Up 0.2 %

Shares of Vector Group stock opened at $14.99 on Monday. Vector Group Ltd. has a 52-week low of $9.27 and a 52-week high of $15.53. The company’s 50-day simple moving average is $14.96 and its 200-day simple moving average is $13.03. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04.

Vector Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on VGR. Barclays lifted 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 note on Monday, November 11th. They issued a “strong-buy” rating on the stock.

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.