Renasant Co. (NASDAQ:RNST) Stock Position Increased by Aviva PLC

Aviva PLC lifted its position in Renasant Co. (NASDAQ:RNST) by 36.0% during the first quarter, Holdings Channel reports. The institutional investor owned 60,113 shares of the financial services provider’s stock after buying an additional 15,908 shares during the quarter. Aviva PLC’s holdings in Renasant were worth $2,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RNST. BlackRock Inc. raised its position in shares of Renasant by 124.5% during the fourth quarter. BlackRock Inc. now owns 8,286,320 shares of the financial services provider’s stock worth $279,083,000 after purchasing an additional 4,594,717 shares during the period. Victory Capital Management Inc. raised its position in shares of Renasant by 0.6% during the first quarter. Victory Capital Management Inc. now owns 3,306,760 shares of the financial services provider’s stock worth $136,833,000 after purchasing an additional 20,616 shares during the period. Palisade Capital Management LLC NJ raised its position in shares of Renasant by 3.7% during the first quarter. Palisade Capital Management LLC NJ now owns 1,068,120 shares of the financial services provider’s stock worth $44,199,000 after purchasing an additional 38,070 shares during the period. Geode Capital Management LLC raised its position in shares of Renasant by 9.4% during the first quarter. Geode Capital Management LLC now owns 937,478 shares of the financial services provider’s stock worth $38,792,000 after purchasing an additional 80,299 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Renasant by 55.8% during the fourth quarter. Bank of New York Mellon Corp now owns 745,161 shares of the financial services provider’s stock worth $25,097,000 after purchasing an additional 266,925 shares during the period. 81.04% of the stock is currently owned by institutional investors.

Shares of RNST stock opened at $41.49 on Friday. Renasant Co. has a 1-year low of $20.89 and a 1-year high of $46.97. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.34 billion, a P/E ratio of 16.80 and a beta of 1.28. The company’s fifty day simple moving average is $43.01.

Renasant (NASDAQ:RNST) last issued its earnings results on Monday, April 26th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.22. Renasant had a return on equity of 6.85% and a net margin of 18.15%. The firm had revenue of $109.60 million for the quarter, compared to the consensus estimate of $167.65 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Renasant Co. will post 2.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. Renasant’s dividend payout ratio (DPR) is currently 45.60%.

In other Renasant news, EVP James W. Gray sold 9,066 shares of the business’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $38.23, for a total value of $346,593.18. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at $960,146.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.77% of the company’s stock.

A number of research analysts have recently weighed in on RNST shares. Raymond James reiterated a “hold” rating on shares of Renasant in a report on Friday, June 4th. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, April 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $33.60.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which 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.

See Also: Why Invest in Dividend Achievers?

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).

Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.