ING Groep NV Has $16,062,000 Stake in Reynolds American Inc. (RAI)
ING Groep NV increased its stake in shares of Reynolds American Inc. (NYSE:RAI) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 297,887 shares of the company’s stock after buying an additional 9,731 shares during the period. ING Groep NV’s holdings in Reynolds American were worth $16,062,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in RAI. AMP Capital Investors Ltd boosted its stake in shares of Reynolds American by 9.3% in the first quarter. AMP Capital Investors Ltd now owns 789,202 shares of the company’s stock valued at $39,839,000 after buying an additional 67,138 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Reynolds American by 4.4% in the first quarter. Envestnet Asset Management Inc. now owns 552,059 shares of the company’s stock valued at $27,774,000 after buying an additional 23,487 shares in the last quarter. Aviance Capital Management LLC boosted its stake in shares of Reynolds American by 30.1% in the second quarter. Aviance Capital Management LLC now owns 549,100 shares of the company’s stock valued at $29,613,000 after buying an additional 127,031 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Reynolds American during the first quarter valued at about $402,000. Finally, Raymond James Trust N.A. boosted its stake in shares of Reynolds American by 7.3% in the second quarter. Raymond James Trust N.A. now owns 109,494 shares of the company’s stock valued at $5,905,000 after buying an additional 7,441 shares in the last quarter. 46.92% of the stock is owned by institutional investors.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.04% during trading on Friday, reaching $47.15. 4,706,760 shares of the company’s stock were exchanged. The company has a 50 day moving average of $49.25 and a 200 day moving average of $50.26. Reynolds American Inc. has a 52-week low of $43.02 and a 52-week high of $54.48. The firm has a market capitalization of $67.30 billion, a P/E ratio of 12.72 and a beta of 0.36.
Reynolds American (NYSE:RAI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. Equities analysts anticipate that Reynolds American Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, September 8th. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. Reynolds American’s dividend payout ratio is 49.73%.
RAI has been the subject of several research reports. Citigroup Inc. reissued a “buy” rating and set a $57.00 price objective on shares of Reynolds American in a research note on Monday. Morgan Stanley reissued a “hold” rating on shares of Reynolds American in a research note on Thursday, September 1st. Goldman Sachs Group Inc. cut shares of Reynolds American from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $53.00 in a research note on Monday, September 12th. Cowen and Company reissued an “outperform” rating and set a $57.00 price objective on shares of Reynolds American in a research note on Tuesday, August 16th. Finally, Berenberg Bank initiated coverage on shares of Reynolds American in a research note on Tuesday, June 14th. They set a “hold” rating and a $54.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.86.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
About Reynolds American
Reynolds American Inc (RAI) is a holding company. The Company’s segments are RJR Tobacco, Santa Fe and American Snuff. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company, Inc (SFNTC).
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