Bessemer Group Inc. boosted its stake in shares of Renasant Corporation (NASDAQ:RNST) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,800 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. Bessemer Group Inc.’s holdings in Renasant Corporation were worth $2,356,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in shares of Renasant Corporation by 2.4% in the second quarter. Nationwide Fund Advisors now owns 31,881 shares of the financial services provider’s stock valued at $1,031,000 after buying an additional 741 shares during the last quarter. Homrich & Berg acquired a new position in shares of Renasant Corporation during the second quarter valued at about $1,598,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Renasant Corporation by 8.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 29,711 shares of the financial services provider’s stock valued at $961,000 after buying an additional 2,197 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Renasant Corporation by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 118,832 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 1,722 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Renasant Corporation by 1,535.2% in the second quarter. Royal Bank of Canada now owns 35,157 shares of the financial services provider’s stock valued at $1,137,000 after buying an additional 33,007 shares during the period. 59.29% of the stock is currently owned by hedge funds and other institutional investors.
Renasant Corporation (NASDAQ:RNST) opened at 40.99 on Wednesday. The stock has a market cap of $1.82 billion, a P/E ratio of 18.89 and a beta of 1.02. Renasant Corporation has a 12 month low of $30.16 and a 12 month high of $44.65. The firm’s 50-day moving average price is $40.52 and its 200-day moving average price is $37.12.
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RNST has been the subject of a number of recent research reports. Zacks Investment Research lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, January 12th. Jefferies Group LLC lowered Renasant Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a report on Monday, November 28th. Finally, Keefe, Bruyette & Woods cut Renasant Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $37.00 to $43.00 in a research report on Tuesday, November 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.80.
In other Renasant Corporation news, Director Albert J. Dale III sold 2,031 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $39.42, for a total transaction of $80,062.02. Following the transaction, the director now owns 24,369 shares of the company’s stock, valued at $960,625.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James W. Gray sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $39.50, for a total value of $197,500.00. Following the transaction, the executive vice president now directly owns 14,214 shares in the company, valued at approximately $561,453. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,747 shares of company stock valued at $598,548. Company insiders own 5.18% of the company’s stock.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.
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