Russell Investments Group Ltd. boosted its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,133 shares of the financial services provider's stock after acquiring an additional 46,682 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Renasant worth $5,510,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. KBC Group NV grew its stake in Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 901 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of Renasant during the 4th quarter valued at approximately $208,000. Cibc World Markets Corp bought a new position in shares of Renasant in the 4th quarter worth about $209,000. Verition Fund Management LLC bought a new position in Renasant in the third quarter worth about $210,000. Finally, CIBC Asset Management Inc acquired a new position in Renasant during the 4th quarter valued at approximately $220,000. Institutional investors and hedge funds own 77.31% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $46.00 target price (up previously from $45.00) on shares of Renasant in a research note on Thursday, January 30th. Raymond James decreased their price target on Renasant from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler lifted their price objective on shares of Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. StockNews.com downgraded Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, Stephens increased their price objective on Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $42.17.
Read Our Latest Stock Report on Renasant
Renasant Price Performance
RNST stock traded up $0.13 during trading on Friday, hitting $28.13. The company had a trading volume of 3,126,142 shares, compared to its average volume of 597,352. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.79 billion, a P/E ratio of 8.60 and a beta of 0.93. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $39.63. The company has a fifty day moving average price of $33.82 and a two-hundred day moving average price of $35.10.
Renasant Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 3.13%. Renasant's dividend payout ratio is currently 26.91%.
Insider Activity at Renasant
In other news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction of $48,103.20. Following the transaction, the chief accounting officer now owns 17,586 shares in the company, valued at approximately $645,757.92. This trade represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.81% of the company's stock.
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.
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