State Treasurer State of Michigan boosted its position in shares of Reynolds American, Inc. (NYSE:RAI) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 557,114 shares of the company’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in Reynolds American were worth $36,235,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in 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 in the last quarter. Baystate Wealth Management LLC increased 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 valued at $197,000 after buying an additional 50 shares during the period. Parallel Advisors LLC increased its stake in shares of Reynolds American by 21.2% in the first quarter. Parallel Advisors LLC now owns 3,065 shares of the company’s stock valued at $198,000 after buying an additional 537 shares during the period. Guardian Life Insurance Co. of America increased its stake 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. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Reynolds American during the first quarter valued at approximately $202,000. 46.34% of the stock is owned by institutional investors and hedge funds.

Reynolds American, Inc. (RAI) traded down 2.23% during mid-day trading on Friday, reaching $65.40. 159,452,032 shares of the company traded hands. Reynolds American, Inc. has a 12-month low of $43.38 and a 12-month high of $67.81. The company’s 50-day moving average is $65.25 and its 200-day moving average is $64.00.

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Several analysts have recently commented on RAI shares. BidaskClub downgraded shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. 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. Cowen and Company reaffirmed a “hold” rating and set a $65.00 price objective on shares of Reynolds American in a research report on Tuesday, July 11th. Piper Jaffray Companies started coverage on shares of Reynolds American in a research report on Thursday, May 25th. They set a “neutral” rating and a $67.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Reynolds American from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently 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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