APG Asset Management N.V. purchased a new stake in Renasant Corp. (NASDAQ:RNST) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 52,200 shares of the financial services provider’s stock, valued at approximately $1,778,000. APG Asset Management N.V. owned 0.11% of Renasant at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Renasant by 8.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 208,258 shares of the financial services provider’s stock worth $8,516,000 after purchasing an additional 15,851 shares during the last quarter. Jane Street Group LLC acquired a new position in Renasant during the 3rd quarter worth about $217,000. Dimensional Fund Advisors LP lifted its position in Renasant by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock worth $129,456,000 after buying an additional 82,379 shares in the last quarter. Wells Fargo & Company MN lifted its position in Renasant by 36.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,423,017 shares of the financial services provider’s stock worth $61,048,000 after buying an additional 380,801 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in Renasant by 79.8% during the 3rd quarter. Citadel Advisors LLC now owns 53,324 shares of the financial services provider’s stock worth $2,288,000 after buying an additional 23,662 shares in the last quarter. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Fred F. Sharpe purchased 2,000 shares of the stock in a transaction dated Friday, January 19th. The stock was bought at an average cost of $43.80 per share, with a total value of $87,600.00. Following the purchase, the director now directly owns 11,666 shares in the company, valued at approximately $510,970.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP R Rick Hart sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $43.17, for a total value of $431,700.00. Following the completion of the sale, the executive vice president now directly owns 83,450 shares of the company’s stock, valued at $3,602,536.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,679 shares of company stock worth $1,362,610. Corporate insiders own 3.86% of the company’s stock.
Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Renasant had a net margin of 18.19% and a return on equity of 8.45%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $124.55 million. equities research analysts anticipate that Renasant Corp. will post 3.01 earnings per share for the current year.
Several brokerages recently issued reports on RNST. BidaskClub downgraded shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Hovde Group set a $47.00 price target on shares of Renasant and gave the stock a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research downgraded shares of Renasant from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price target on shares of Renasant in a research report on Friday, December 22nd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $45.00 price target on shares of Renasant in a research report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.60.
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Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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