Daiwa Securities Group Inc. cut its stake in shares of Reynolds American Inc (NYSE:RAI) by 40.2% during the second quarter, Holdings Channel reports. The institutional investor owned 42,476 shares of the company’s stock after selling 28,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Reynolds American were worth $2,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Reynolds American by 3,610.0% in the first quarter. BlackRock Inc. now owns 46,203,722 shares of the company’s stock valued at $2,911,755,000 after buying an additional 44,958,351 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Reynolds American by 48,701.2% in the first quarter. Renaissance Technologies LLC now owns 5,514,535 shares of the company’s stock valued at $347,526,000 after buying an additional 5,503,235 shares during the last quarter. Pentwater Capital Management LP bought a new stake in shares of Reynolds American during the first quarter valued at about $321,455,000. Bank of New York Mellon Corp boosted its stake in shares of Reynolds American by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 21,755,416 shares of the company’s stock valued at $1,371,026,000 after buying an additional 3,799,305 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Reynolds American by 183.7% in the first quarter. Bank of Montreal Can now owns 3,872,377 shares of the company’s stock valued at $244,037,000 after buying an additional 2,507,421 shares during the last quarter. 46.34% of the stock is owned by hedge funds and other institutional investors.

Reynolds American Inc (RAI) opened at 65.40 on Tuesday. Reynolds American Inc has a 12-month low of $43.38 and a 12-month high of $67.81. The stock’s 50 day moving average price is $65.38 and its 200-day moving average price is $63.55.

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Several analysts have issued reports on the company. Piper Jaffray Companies assumed coverage on Reynolds American in a report on Thursday, May 25th. They issued a “neutral” rating and a $67.00 target price for the company. BidaskClub cut Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the company a “hold” rating in a report on Monday, July 17th. Vetr upgraded Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 target price for the company in a report on Monday, June 12th. Finally, Zacks Investment Research cut Reynolds American from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $59.82.

Reynolds American Company Profile

Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.

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Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

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