Renasant Corp $RNST Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Renasant Corp (NYSE:RNST) by 54.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,364 shares of the company’s stock after buying an additional 104,225 shares during the period. Sei Investments Co. owned about 0.32% of Renasant worth $10,635,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Renasant by 178.5% in the first quarter. Principal Financial Group Inc. now owns 1,261,160 shares of the company’s stock worth $45,566,000 after acquiring an additional 808,316 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 595,609 shares during the last quarter. Channing Capital Management LLC increased its position in shares of Renasant by 35.0% in the 4th quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company’s stock valued at $78,383,000 after purchasing an additional 576,986 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Renasant by 76.8% in the 1st quarter. Deprince Race & Zollo Inc. now owns 976,243 shares of the company’s stock valued at $35,272,000 after purchasing an additional 423,963 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Renasant by 15.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,962,781 shares of the company’s stock valued at $109,297,000 after purchasing an additional 394,249 shares in the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Trading Up 0.4%

NYSE RNST opened at $43.51 on Friday. The firm’s fifty day moving average price is $42.32 and its 200 day moving average price is $39.82. Renasant Corp has a 12 month low of $33.04 and a 12 month high of $44.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 13.03 and a beta of 0.96.

Renasant (NYSE:RNST) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Renasant had a net margin of 19.94% and a return on equity of 8.67%. The firm had revenue of $273.94 million during the quarter, compared to analysts’ expectations of $280.71 million. During the same period in the previous year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that Renasant Corp will post 3.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RNST. Hovde Group boosted their target price on shares of Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Renasant in a research note on Friday, June 5th. TD Cowen lifted their price target on Renasant from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler upped their price objective on Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Renasant presently has a consensus rating of “Buy” and an average price target of $47.67.

Insider Transactions at Renasant

In other news, Vice Chairman C Mitchell Waycaster sold 12,704 shares of Renasant stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $39.50, for a total transaction of $501,808.00. Following the sale, the insider owned 183,235 shares in the company, valued at approximately $7,237,782.50. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert J. Dale III sold 1,650 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $39.80, for a total value of $65,670.00. Following the completion of the sale, the director directly owned 40,075 shares of the company’s stock, valued at approximately $1,594,985. This trade represents a 3.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 15,611 shares of company stock worth $618,889. Corporate insiders own 2.07% of the company’s stock.

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 estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction 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.