Jennison Associates LLC grew its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 204.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,173,801 shares of the financial services provider's stock after buying an additional 788,762 shares during the quarter. Jennison Associates LLC owned 1.85% of Renasant worth $41,963,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mutual of America Capital Management LLC boosted its stake in Renasant by 3.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 300 shares during the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of Renasant by 3.6% in the fourth quarter. Sheets Smith Wealth Management now owns 12,471 shares of the financial services provider's stock valued at $446,000 after purchasing an additional 438 shares in the last quarter. KBC Group NV boosted its position in shares of Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider's stock valued at $80,000 after buying an additional 596 shares during the last quarter. HighTower Advisors LLC grew its holdings in Renasant by 7.1% during the third quarter. HighTower Advisors LLC now owns 11,126 shares of the financial services provider's stock worth $365,000 after buying an additional 734 shares in the last quarter. Finally, Quarry LP raised its position in Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider's stock valued at $29,000 after buying an additional 817 shares during the last quarter. 77.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently issued reports on RNST shares. Hovde Group lowered shares of Renasant from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Stephens lifted their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $46.00 target price (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. Finally, StockNews.com lowered Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $42.83.
Check Out Our Latest Report on Renasant
Renasant Price Performance
Shares of NASDAQ RNST opened at $38.90 on Wednesday. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 11.90 and a beta of 1.03. The stock has a fifty day simple moving average of $36.47 and a two-hundred day simple moving average of $34.86. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a 1-year low of $27.98 and a 1-year high of $39.55.
Renasant Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, December 18th. Renasant's dividend payout ratio (DPR) is currently 26.91%.
About Renasant
(
Free Report)
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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.
See Also
Want to see what other hedge funds are holding RNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Renasant Co. (NASDAQ:RNST - Free Report).
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