Advisors Asset Management Inc. Lowers Holdings in Vector Group Ltd. (NYSE:VGR)

Advisors Asset Management Inc. trimmed its stake in shares of Vector Group Ltd. (NYSE:VGR) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 921,770 shares of the company’s stock after selling 88,668 shares during the period. Advisors Asset Management Inc.’s holdings in Vector Group were worth $13,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of VGR. Vanguard Group Inc. boosted its position in shares of Vector Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 17,868,987 shares of the company’s stock worth $195,844,000 after purchasing an additional 283,371 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Vector Group by 2.5% during the second quarter. Renaissance Technologies LLC now owns 8,309,315 shares of the company’s stock worth $87,829,000 after purchasing an additional 198,893 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Vector Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,216,060 shares of the company’s stock worth $33,993,000 after purchasing an additional 103,633 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Vector Group by 6.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,181,224 shares of the company’s stock worth $12,946,000 after purchasing an additional 70,685 shares during the last quarter. Finally, Algert Global LLC grew its position in shares of Vector Group by 72.9% in the second quarter. Algert Global LLC now owns 691,014 shares of the company’s stock valued at $7,304,000 after purchasing an additional 291,404 shares during the last quarter. 64.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VGR shares. StockNews.com started coverage on shares of Vector Group in a report on Tuesday. They set a “strong-buy” rating for the company. Barclays lifted their target price on shares of Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th.

Vector Group Price Performance

Shares of VGR stock opened at $14.99 on Wednesday. Vector Group Ltd. has a 12-month low of $9.27 and a 12-month high of $15.53. The business has a 50 day simple moving average of $14.97 and a 200 day simple moving average of $13.11. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04.

Vector Group 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.