Exane Derivatives Invests $6.02 Million in Reynolds American Inc (RAI)

Exane Derivatives purchased a new stake in Reynolds American Inc (NYSE:RAI) during the second quarter, according to its most recent filing with the SEC. The firm purchased 92,603 shares of the company’s stock, valued at approximately $6,022,000. Reynolds American accounts for 1.3% of Exane Derivatives’ investment portfolio, making the stock its 11th largest position.

Other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC raised its position in shares of Reynolds American by 0.4% in the first quarter. Bruderman Asset Management LLC now owns 4,127 shares of the company’s stock valued at $260,000 after buying an additional 18 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Reynolds American by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,190 shares of the company’s stock valued at $201,000 after buying an additional 22 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of Reynolds American by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,256 shares of the company’s stock valued at $268,000 after buying an additional 25 shares during the period. Altavista Wealth Management Inc. raised its stake in Reynolds American by 0.6% in the first quarter. Altavista Wealth Management Inc. now owns 4,188 shares of the company’s stock valued at $264,000 after buying an additional 27 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in Reynolds American by 0.6% in the first quarter. Bahl & Gaynor Inc. now owns 5,199 shares of the company’s stock valued at $328,000 after buying an additional 33 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 Friday. The stock has a 50 day moving average of $65.27 and a 200-day moving average of $63.85. Reynolds American Inc has a 52-week low of $43.38 and a 52-week high of $67.81.

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Several research firms have recently issued reports on RAI. Jefferies Group LLC set a $60.00 price objective on shares of Reynolds American and gave the stock a “hold” rating in a research report on Monday, July 17th. BidaskClub lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Cowen and Company reissued a “hold” rating and issued a $65.00 price objective on shares of Reynolds American in a research report on Tuesday, July 11th. Piper Jaffray Companies began coverage on shares of Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 target price for the company. Finally, Vetr upgraded shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $59.82.

About Reynolds American

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.

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

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