Renasant Co. (NASDAQ:RNST) Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC boosted its position in Renasant Co. (NASDAQ:RNST - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,894 shares of the financial services provider's stock after purchasing an additional 36,391 shares during the quarter. Voya Investment Management LLC owned about 0.19% of Renasant worth $4,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Renasant by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,207,451 shares of the financial services provider's stock valued at $257,666,000 after acquiring an additional 50,934 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Renasant by 0.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,973,413 shares of the financial services provider's stock worth $142,050,000 after purchasing an additional 18,047 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Renasant by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,437,756 shares of the financial services provider's stock valued at $51,412,000 after purchasing an additional 9,718 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Renasant by 204.9% in the fourth quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider's stock valued at $41,963,000 after purchasing an additional 788,762 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Renasant during the fourth quarter worth approximately $36,987,000. Institutional investors and hedge funds own 77.31% of the company's stock.

Wall Street Analyst Weigh In

RNST has been the subject of a number of recent research reports. Raymond James raised Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price for the company in a research note on Thursday, April 24th. Hovde Group lifted 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. StockNews.com lowered shares of Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Stephens lifted their price target on shares of Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $46.00 price objective (up from $45.00) on shares of Renasant in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Renasant presently has an average rating of "Moderate Buy" and a consensus target price of $41.50.

Renasant Trading Up 3.9 %

NASDAQ:RNST traded up $1.25 on Friday, reaching $33.59. 777,092 shares of the company's stock were exchanged, compared to its average volume of 632,658. The business has a fifty day moving average of $32.37 and a 200-day moving average of $35.04. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 10.27 and a beta of 0.93.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The business had revenue of $170.59 million during the quarter, compared to the consensus estimate of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, analysts expect that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.62%. Renasant's payout ratio is 27.33%.

Insider Activity at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the sale, the chief accounting officer now directly owns 17,586 shares of the company's stock, valued at approximately $645,757.92. This represents a 6.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.81% of the stock is owned by corporate insiders.

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.