SG Americas Securities LLC Purchases 404,258 Shares of Renasant Corp $RNST

Key Points

• SG Americas Securities LLC increased its stake in Renasant by 4,534.6% in Q4, buying 404,258 shares to hold 413,173 shares (about 0.43%) worth roughly $14.55 million.
• Insider selling totaled 19,850 shares (~$752,333) in the last 90 days, including CFO James C. Iv Mabry's 12,500-share sale and EVP Mark Jeanfreau's 6,000-share sale, leaving insiders with 2.81% ownership.
• Renasant beat Q4 estimates with $0.91 EPS (vs. $0.80) and $278.5M revenue (vs. $269M), declared a $0.23 quarterly dividend (annualized $0.92, ~2.6% yield), and carries a consensus Buy rating with a $43 price target.

SG Americas Securities LLC raised its position in shares of Renasant Corp (NYSE:RNST - Free Report) by 4,534.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 413,173 shares of the company's stock after buying an additional 404,258 shares during the period. SG Americas Securities LLC owned about 0.43% of Renasant worth $14,552,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Renasant by 365.6% during the second quarter. Invesco Ltd. now owns 2,215,665 shares of the company's stock valued at $79,609,000 after acquiring an additional 1,739,786 shares during the last quarter. Channing Capital Management LLC purchased a new stake in shares of Renasant during the third quarter worth about $60,815,000. State Street Corp grew its stake in shares of Renasant by 14.1% in the second quarter. State Street Corp now owns 4,812,696 shares of the company's stock worth $172,920,000 after purchasing an additional 595,609 shares during the last quarter. Wellington Management Group LLP increased its holdings in Renasant by 15.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,962,781 shares of the company's stock valued at $109,297,000 after purchasing an additional 394,249 shares during the period. Finally, Jain Global LLC increased its holdings in Renasant by 408.5% during the 3rd quarter. Jain Global LLC now owns 486,377 shares of the company's stock valued at $17,942,000 after purchasing an additional 390,733 shares during the period. Institutional investors own 77.31% of the company's stock.

Insider Transactions at Renasant

In other Renasant news, CFO James C. Iv Mabry sold 12,500 shares of Renasant stock in a transaction on Friday, January 30th. The stock was sold at an average price of $37.83, for a total transaction of $472,875.00. Following the completion of the transaction, the chief financial officer owned 105,337 shares in the company, valued at approximately $3,984,898.71. The trade was a 10.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Jeanfreau sold 6,000 shares of the business's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total value of $227,280.00. Following the completion of the sale, the executive vice president directly owned 65,172 shares in the company, valued at $2,468,715.36. This trade represents a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,850 shares of company stock valued at $752,333 in the last ninety days. 2.81% of the stock is currently owned by corporate insiders.

Renasant Price Performance

Shares of Renasant stock opened at $35.21 on Friday. Renasant Corp has a 1 year low of $26.97 and a 1 year high of $42.11. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 16.61 and a beta of 0.97. The stock has a 50-day simple moving average of $38.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.91.

Renasant (NYSE:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $278.52 million for the quarter, compared to analyst estimates of $269.00 million. Renasant had a net margin of 12.55% and a return on equity of 7.53%.

Renasant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, March 17th. Renasant's payout ratio is currently 43.40%.

Analyst Ratings Changes

RNST has been the subject of a number of recent analyst reports. Weiss Ratings raised Renasant from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded Renasant from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. TD Cowen restated a "buy" rating on shares of Renasant in a report on Thursday, January 29th. Finally, Hovde Group raised their price target on Renasant from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $43.00.

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. 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. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.

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