Dai Ichi Life Insurance Company Ltd decreased its stake in Reynolds American Inc (NYSE:RAI) by 59.0% during the first quarter, Holdings Channel reports. The firm owned 88,163 shares of the company’s stock after selling 126,745 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Reynolds American were worth $5,556,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in Reynolds American during the fourth quarter valued at about $128,000. Parallel Advisors LLC purchased a new stake in shares of Reynolds American during the fourth quarter worth $142,000. Quadrant Capital Group LLC boosted its stake in shares of Reynolds American by 7.0% in the first quarter. Quadrant Capital Group LLC now owns 2,999 shares of the company’s stock worth $182,000 after buying an additional 195 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in shares of Reynolds American by 1.7% in the first quarter. Baystate Wealth Management LLC now owns 3,075 shares of the company’s stock worth $197,000 after buying an additional 50 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Reynolds American during the first quarter worth $202,000. 46.29% of the stock is owned by institutional investors.
Reynolds American Inc (RAI) opened at 66.50 on Friday. The stock has a market capitalization of $94.88 billion, a price-to-earnings ratio of 28.85 and a beta of 0.44. Reynolds American Inc has a 12-month low of $43.38 and a 12-month high of $67.81. The company has a 50-day moving average price of $65.93 and a 200-day moving average price of $61.29.
Reynolds American (NYSE:RAI) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Reynolds American had a return on equity of 15.64% and a net margin of 26.23%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Reynolds American Inc will post $2.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be issued a $0.51 dividend. The ex-dividend date is Thursday, June 8th. This represents a $2.04 annualized dividend and a yield of 3.07%. Reynolds American’s dividend payout ratio is currently 88.31%.
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A number of brokerages have recently weighed in on RAI. Piper Jaffray Companies began coverage on Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price objective for the company. BidaskClub cut Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Monday, June 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Reynolds American in a research note on Wednesday, April 26th. Finally, Zacks Investment Research cut Reynolds American from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $59.40.
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.
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