Aviance Capital Partners LLC Lowers Position in Reynolds American Inc (RAI)

Aviance Capital Partners LLC Lowers Position in Reynolds American Inc (RAI)

Aviance Capital Partners LLC lowered its stake in shares of Reynolds American Inc (NYSE:RAI) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 77,180 shares of the company’s stock after selling 300 shares during the period. Reynolds American accounts for approximately 1.3% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 11th largest position. Aviance Capital Partners LLC’s holdings in Reynolds American were worth $3,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RAI. Nisa Investment Advisors LLC raised its position in shares of Reynolds American by 3.1% in the second quarter. Nisa Investment Advisors LLC now owns 265,838 shares of the company’s stock worth $14,335,000 after buying an additional 8,076 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Reynolds American by 307.2% in the second quarter. LS Investment Advisors LLC now owns 24,842 shares of the company’s stock worth $1,340,000 after buying an additional 18,741 shares in the last quarter. Oakbrook Investments LLC raised its position in shares of Reynolds American by 0.9% in the second quarter. Oakbrook Investments LLC now owns 45,766 shares of the company’s stock worth $2,468,000 after buying an additional 400 shares in the last quarter. First Midwest Bank Trust Division raised its position in shares of Reynolds American by 12.2% in the second quarter. First Midwest Bank Trust Division now owns 12,418 shares of the company’s stock worth $670,000 after buying an additional 1,350 shares in the last quarter. Finally, ING Groep NV raised its position in shares of Reynolds American by 3.4% in the second quarter. ING Groep NV now owns 297,887 shares of the company’s stock worth $16,062,000 after buying an additional 9,731 shares in the last quarter. Institutional investors own 46.63% of the company’s stock.

Reynolds American Inc (NYSE:RAI) traded up 0.1054% during trading on Friday, hitting $60.2334. 1,377,717 shares of the stock were exchanged. The company has a 50-day moving average price of $56.49 and a 200 day moving average price of $52.22. The firm has a market capitalization of $85.88 billion, a price-to-earnings ratio of 15.6491 and a beta of 0.35. Reynolds American Inc has a 1-year low of $43.38 and a 1-year high of $60.36.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $1.84 annualized dividend and a dividend yield of 3.06%. Reynolds American’s dividend payout ratio is currently 47.92%.

A number of equities analysts have weighed in on RAI shares. Vetr lowered shares of Reynolds American from a “buy” rating to a “hold” rating and set a $56.74 target price for the company. in a research report on Monday, October 31st. Zacks Investment Research lowered shares of Reynolds American from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Cowen and Company reiterated an “outperform” rating and set a $57.00 target price on shares of Reynolds American in a research report on Saturday, October 22nd. Jefferies Group LLC increased their target price on shares of Reynolds American from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Finally, Berenberg Bank upgraded shares of Reynolds American from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Friday, October 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Reynolds American presently has an average rating of “Hold” and a consensus price target of $55.79.

Reynolds American Company Profile

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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