American Century Companies Inc. Purchases 175,392 Shares of Renasant Co. (NASDAQ:RNST)

American Century Companies Inc. increased its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 137.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 302,663 shares of the financial services provider's stock after purchasing an additional 175,392 shares during the quarter. American Century Companies Inc. owned 0.48% of Renasant worth $10,820,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Renasant by 26.5% in the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider's stock valued at $109,522,000 after purchasing an additional 705,344 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Renasant by 81.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider's stock valued at $8,559,000 after acquiring an additional 117,950 shares in the last quarter. Principal Financial Group Inc. boosted its position in Renasant by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after acquiring an additional 8,710 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Renasant by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 734,744 shares of the financial services provider's stock worth $23,879,000 after acquiring an additional 131,821 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Renasant by 122.0% in the third quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider's stock valued at $910,000 after purchasing an additional 15,203 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the transaction, the chief accounting officer now directly owns 17,586 shares of the company's stock, valued at $645,757.92. This represents a 6.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.81% of the company's stock.

Renasant Stock Performance

NASDAQ RNST traded down $0.73 during trading on Monday, reaching $28.64. 1,822,139 shares of the company's stock were exchanged, compared to its average volume of 558,841. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The business has a 50 day moving average price of $35.87 and a 200-day moving average price of $35.44. The stock has a market capitalization of $1.82 billion, a P/E ratio of 8.76 and a beta of 0.93. Renasant Co. has a fifty-two week low of $16.12 and a fifty-two week high of $39.63.

Renasant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Monday, March 17th. Renasant's dividend payout ratio (DPR) is presently 26.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RNST shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $46.00 target price (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Stephens lifted their target price on Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Raymond James dropped their target price on Renasant from $44.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler raised their price target on Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, StockNews.com cut Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.17.

About Renasant

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.