Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 21.41MM shares of Vector Group Ltd (VGR). This represents 13.8% of the company.
In their previous filing dated January 27, 2022 they reported 20.49MM shares and 13.30% of the company, an increase in shares of 4.48% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 14.92% Upside
As of February 7, 2023, the average one-year price target for Vector Group is $14.79. The forecasts range from a low of $14.14 to a high of $15.75. The average price target represents an increase of 14.92% from its latest reported closing price of $12.87.
The projected annual revenue for Vector Group is $1,467MM, an increase of 65.38%. The projected annual EPS is $1.30, an increase of 32.67%.
Fund Sentiment
There are 534 funds or institutions reporting positions in Vector Group. This is a decrease of 5 owner(s) or 0.93%.
Average portfolio weight of all funds dedicated to US:VGR is 0.1106%, a decrease of 2.0622%. Total shares owned by institutions decreased in the last three months by 3.52% to 118,076K shares.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,640,936 shares representing 6.23% ownership of the company. In it's prior filing, the firm reported owning 9,232,687 shares, representing an increase of 4.23%. The firm decreased its portfolio allocation in VGR by 11.08% over the last quarter.
Capital Research Global Investors holds 8,958,205 shares representing 5.79% ownership of the company. In it's prior filing, the firm reported owning 10,424,130 shares, representing a decrease of 16.36%. The firm decreased its portfolio allocation in VGR by 23.94% over the last quarter.
Renaissance Technologies holds 7,823,163 shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 8,731,963 shares, representing a decrease of 11.62%. The firm decreased its portfolio allocation in VGR by 10.17% over the last quarter.
CAIBX - CAPITAL INCOME BUILDER holds 6,328,252 shares representing 4.09% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,013,119 shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 3,878,523 shares, representing an increase of 3.35%. The firm decreased its portfolio allocation in VGR by 9.50% over the last quarter.
Vector Group Declares $0.20 Dividend
Vector Group said on August 22, 2022 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of September 14, 2022 received the payment on September 29, 2022. Previously, the company paid $0.20 per share.
At the current share price of $12.87 / share, the stock's dividend yield is 6.22%. Looking back five years and taking a sample every week, the average dividend yield has been 8.89%, the lowest has been 4.63%, and the highest has been 16.37%. The standard deviation of yields is 3.16 (n=236).
The current dividend yield is 0.85 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.79. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.50%.
Vector Group Background Information
(This description is provided by the company.)
Vector Group Ltd. is an American diversified holding company with two major businesses: Liggett Group LLC (tobacco) and New Valley LLC (real estate), including Douglas Elliman. Vector Group was previously called Brooke Group.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
