JPMorgan Chase & Co. Sells 208,978 Shares of Vector Group Ltd. (NYSE:VGR)

JPMorgan Chase & Co. reduced its position in Vector Group Ltd. (NYSE:VGR) by 96.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,492 shares of the company’s stock after selling 208,978 shares during the period. JPMorgan Chase & Co.’s holdings in Vector Group were worth $176,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Suntrust Banks Inc. increased its stake in shares of Vector Group by 9.4% in the first quarter. Suntrust Banks Inc. now owns 92,685 shares of the company’s stock worth $1,927,000 after buying an additional 7,963 shares during the last quarter. Navellier & Associates Inc increased its stake in shares of Vector Group by 4.8% in the first quarter. Navellier & Associates Inc now owns 16,777 shares of the company’s stock worth $349,000 after buying an additional 775 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Vector Group during the first quarter worth about $1,482,000. Russell Investments Group Ltd. increased its stake in shares of Vector Group by 43.6% in the first quarter. Russell Investments Group Ltd. now owns 200,761 shares of the company’s stock worth $4,175,000 after buying an additional 60,989 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Vector Group during the first quarter worth about $1,279,000. 47.29% of the stock is currently owned by hedge funds and other institutional investors.

Vector Group Ltd. (NYSE:VGR) opened at 21.13 on Friday. The company has a market capitalization of $2.72 billion, a PE ratio of 57.11 and a beta of 0.46. Vector Group Ltd. has a 52-week low of $19.63 and a 52-week high of $23.24. The company has a 50 day moving average of $20.96 and a 200 day moving average of $21.40.

Vector Group (NYSE:VGR) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. Vector Group had a negative return on equity of 36.72% and a net margin of 2.86%. The company had revenue of $472 million for the quarter, compared to analysts’ expectations of $449.40 million. During the same period in the previous year, the firm earned $0.20 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Vector Group Ltd. will post $0.67 earnings per share for the current fiscal year.

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VGR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Vector Group from a “sell” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, May 3rd. BidaskClub downgraded shares of Vector Group from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, TheStreet cut shares of Vector Group from a “b-” rating to a “c+” rating in a research 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.

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

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