Great West Life Assurance Co. Can held its position in shares of Renasant Corp. (NASDAQ:RNST) during the second quarter, Holdings Channel reports. The firm owned 4,540 shares of the financial services provider’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Renasant Corp. were worth $149,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of RNST. Goldman Sachs Group Inc. boosted its position in shares of Renasant Corp. by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,199,370 shares of the financial services provider’s stock valued at $39,471,000 after buying an additional 333,957 shares in the last quarter. Norges Bank acquired a new position in shares of Renasant Corp. during the fourth quarter valued at $10,676,000. State Street Corp boosted its position in shares of Renasant Corp. by 24.0% in the first quarter. State Street Corp now owns 782,398 shares of the financial services provider’s stock valued at $25,747,000 after buying an additional 151,512 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Renasant Corp. during the second quarter valued at $3,180,000. Finally, Palisade Capital Management LLC NJ boosted its position in shares of Renasant Corp. by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 799,982 shares of the financial services provider’s stock valued at $26,327,000 after buying an additional 76,746 shares in the last quarter. Institutional investors and hedge funds own 60.13% of the company’s stock.
Shares of Renasant Corp. (NASDAQ:RNST) traded up 0.74% during mid-day trading on Thursday, reaching $33.85. 200,645 shares of the company’s stock traded hands. The company’s 50 day moving average is $34.05 and its 200 day moving average is $33.31. The company has a market cap of $1.42 billion, a P/E ratio of 17.04 and a beta of 0.98. Renasant Corp. has a 12-month low of $29.49 and a 12-month high of $37.28.
Renasant Corp. (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Renasant Corp. had a net margin of 18.32% and a return on equity of 8.53%. On average, analysts predict that Renasant Corp. will post $2.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. Renasant Corp.’s payout ratio is 36.36%.
A number of research analysts recently weighed in on RNST shares. Jefferies Group restated a “buy” rating and set a $39.00 target price on shares of Renasant Corp. in a research note on Wednesday, July 20th. Zacks Investment Research cut shares of Renasant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Finally, Raymond James Financial Inc. cut shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 target price on the stock. in a research note on Monday, September 12th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Renasant Corp. presently has an average rating of “Hold” and a consensus price target of $35.20.
In other Renasant Corp. news, Director Fred F. Sharpe acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $35.12 per share, for a total transaction of $35,120.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP R Rick Hart sold 4,000 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $33.15, for a total transaction of $132,600.00. Following the completion of the sale, the executive vice president now owns 69,139 shares in the company, valued at approximately $2,291,957.85. The disclosure for this sale can be found here. Company insiders own 5.18% of the company’s stock.
Renasant Corp. 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.
Want to see what other hedge funds are holding RNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Renasant Corp. (NASDAQ:RNST).
Receive News & Ratings for Renasant Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corp. and related companies with MarketBeat.com's FREE daily email newsletter.