The Manufacturers Life Insurance Company Has $57.23 Million Stake in Reynolds American, Inc. (RAI)

The Manufacturers Life Insurance Company lessened its stake in shares of Reynolds American, Inc. (NYSE:RAI) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 879,918 shares of the company’s stock after selling 87,431 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Reynolds American were worth $57,230,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Reynolds American by 2.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock valued at $102,000 after purchasing an additional 39 shares during the period. Glassman Wealth Services boosted its stake in shares of Reynolds American by 0.8% during the second quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock valued at $102,000 after purchasing an additional 12 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $119,000. Finally, Motco boosted its stake in shares of Reynolds American by 549.7% during the second quarter. Motco now owns 1,962 shares of the company’s stock valued at $128,000 after purchasing an additional 1,660 shares during the period. 46.34% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on RAI. Jefferies Group LLC set a $60.00 price objective on Reynolds American and gave the company a “hold” rating in a research note on Friday, August 25th. BidaskClub lowered Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company reissued a “hold” rating and set a $65.00 price objective on shares of Reynolds American in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.82.

TRADEMARK VIOLATION WARNING: “The Manufacturers Life Insurance Company Has $57.23 Million Stake in Reynolds American, Inc. (RAI)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of internatio

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Reynolds American by 2.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock valued at $102,000 after purchasing an additional 39 shares during the period. Glassman Wealth Services boosted its stake in shares of Reynolds American by 0.8% during the second quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock valued at $102,000 after purchasing an additional 12 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Reynolds American during the second quarter valued at approximately $119,000. Finally, Motco boosted its stake in shares of Reynolds American by 549.7% during the second quarter. Motco now owns 1,962 shares of the company’s stock valued at $128,000 after purchasing an additional 1,660 shares during the period. 46.34% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on RAI. Jefferies Group LLC set a $60.00 price objective on Reynolds American and gave the company a “hold” rating in a research note on Friday, August 25th. BidaskClub lowered Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company reissued a “hold” rating and set a $65.00 price objective on shares of Reynolds American in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.82.

TRADEMARK VIOLATION WARNING: “The Manufacturers Life Insurance Company Has $57.23 Million Stake in Reynolds American, Inc. (RAI)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/the-manufacturers-life-insurance-company-has-57-23-million-stake-in-reynolds-american-inc-rai.html.

Reynolds American 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.

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

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