Sei Investments Co. raised its holdings in Renasant Corp (NYSE:RNST – Free Report) by 54.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,364 shares of the company’s stock after purchasing an additional 104,225 shares during the quarter. Sei Investments Co.’s holdings in Renasant were worth $10,635,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Renasant by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,328,672 shares of the company’s stock worth $192,521,000 after buying an additional 61,674 shares during the period. State Street Corp increased its position in Renasant by 14.1% in the 2nd quarter. State Street Corp now owns 4,812,696 shares of the company’s stock valued at $172,920,000 after acquiring an additional 595,609 shares during the period. Wellington Management Group LLP increased its position in Renasant by 4.3% in the 4th quarter. Wellington Management Group LLP now owns 3,089,186 shares of the company’s stock valued at $108,801,000 after acquiring an additional 126,405 shares during the period. Invesco Ltd. raised its stake in Renasant by 0.6% during the 3rd quarter. Invesco Ltd. now owns 2,229,966 shares of the company’s stock valued at $82,263,000 after acquiring an additional 14,301 shares during the last quarter. Finally, Channing Capital Management LLC raised its stake in Renasant by 35.0% during the 4th quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company’s stock valued at $78,383,000 after acquiring an additional 576,986 shares during the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.
Renasant Price Performance
Shares of NYSE:RNST opened at $43.51 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.01 billion, a P/E ratio of 13.03 and a beta of 0.96. Renasant Corp has a 52 week low of $33.04 and a 52 week high of $44.50. The company has a 50-day moving average price of $42.32 and a 200 day moving average price of $39.82.
Insider Activity
In related news, Vice Chairman C Mitchell Waycaster sold 12,704 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $39.50, for a total transaction of $501,808.00. Following the transaction, the insider owned 183,235 shares of the company’s stock, valued at $7,237,782.50. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Albert J. Dale III sold 1,650 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $39.80, for a total value of $65,670.00. Following the completion of the transaction, the director owned 40,075 shares of the company’s stock, valued at $1,594,985. The trade was a 3.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,611 shares of company stock valued at $618,889 in the last three months. 2.07% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Hovde Group lifted their target price on Renasant from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Piper Sandler upped their price target on Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen increased their price target on Renasant from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Renasant in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Renasant currently has a consensus rating of “Buy” and an average target price of $47.67.
View Our Latest Stock Analysis on Renasant
Renasant Profile
Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate1-4 family mortgage; real estatecommercial mortgage; real estateconstruction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.
Further Reading
- Five stocks we like better than Renasant
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding RNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Renasant Corp (NYSE:RNST – Free Report).
Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.
