Renasant Co. (NASDAQ:RNST) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,396 shares of the financial services provider's stock after selling 11,410 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Renasant worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RNST. KBC Group NV lifted its position in shares of Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after buying an additional 901 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new stake in Renasant in the fourth quarter valued at $208,000. Cibc World Markets Corp acquired a new position in Renasant in the fourth quarter valued at $209,000. CIBC Asset Management Inc purchased a new position in shares of Renasant during the fourth quarter worth about $220,000. Finally, Element Wealth LLC acquired a new stake in shares of Renasant during the fourth quarter worth about $240,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at $645,757.92. The trade was a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.81% of the company's stock.

Renasant Price Performance

Shares of RNST stock traded down $0.22 during midday trading on Tuesday, reaching $33.10. 575,159 shares of the company traded hands, compared to its average volume of 635,169. The firm's 50 day simple moving average is $32.26 and its two-hundred day simple moving average is $35.03. The firm has a market cap of $2.11 billion, a PE ratio of 10.12 and a beta of 0.86. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The business had revenue of $170.59 million during the quarter, compared to analysts' expectations of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period last year, the company posted $0.65 EPS. On average, equities research analysts expect that Renasant Co. will post 2.68 EPS for the current fiscal year.

Renasant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 16th. This represents a $0.88 annualized dividend and a yield of 2.66%. Renasant's dividend payout ratio (DPR) is presently 27.33%.

Analyst Upgrades and Downgrades

RNST has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price target on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday. Raymond James upgraded shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Thursday, April 24th. StockNews.com lowered shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Hovde Group increased their target price on shares of Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Stephens boosted their price target on Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Renasant Company 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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.