Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Renasant Co. (NASDAQ:RNST)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 57,170 shares of Renasant Co. during the 1st quarter, totaling approximately $1.94 million and marking an ownership stake of about 0.09%.
• Institutional investors own 77.31% of Renasant's stock, with notable increases in stakes from firms like Vanguard Group and Jennison Associates.
• Renasant's stock has a current price target consensus of $41.67 and a recent rating of "Moderate Buy" from various analysts.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Renasant Co. (NASDAQ:RNST - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,170 shares of the financial services provider's stock, valued at approximately $1,940,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Renasant at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Renasant by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,207,451 shares of the financial services provider's stock worth $257,666,000 after purchasing an additional 50,934 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Renasant by 4.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,825,410 shares of the financial services provider's stock valued at $62,228,000 after buying an additional 82,170 shares during the period. Jennison Associates LLC grew its position in Renasant by 33.5% during the first quarter. Jennison Associates LLC now owns 1,567,120 shares of the financial services provider's stock worth $53,172,000 after buying an additional 393,319 shares in the last quarter. Geode Capital Management LLC increased its stake in Renasant by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,437,756 shares of the financial services provider's stock worth $51,412,000 after acquiring an additional 9,718 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in Renasant by 63.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider's stock valued at $45,888,000 after acquiring an additional 500,193 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company's stock.

Renasant Price Performance

NASDAQ:RNST traded down $1.11 during trading hours on Friday, hitting $35.53. The company's stock had a trading volume of 1,110,492 shares, compared to its average volume of 752,933. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market capitalization of $3.38 billion, a P/E ratio of 10.87 and a beta of 0.90. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. The stock has a fifty day simple moving average of $36.49 and a 200-day simple moving average of $35.12.

Analysts Set New Price Targets

Several research firms have recently issued reports on RNST. Hovde Group increased their target price on Renasant from $35.00 to $39.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Renasant in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

About Renasant

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.