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

SG Americas Securities LLC boosted its position in shares of Renasant Corp (NYSE:RNST) by 4,534.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 413,173 shares of the company’s stock after purchasing an additional 404,258 shares during the period. SG Americas Securities LLC’s holdings in Renasant were worth $14,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Renasant by 12.1% in the third quarter. Jones Financial Companies Lllp now owns 2,825 shares of the company’s stock worth $106,000 after buying an additional 306 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Renasant by 42.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the company’s stock valued at $42,000 after buying an additional 345 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Renasant by 68.7% during the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the company’s stock valued at $32,000 after buying an additional 349 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Renasant by 1.1% during the third quarter. Kestra Private Wealth Services LLC now owns 35,729 shares of the company’s stock valued at $1,318,000 after acquiring an additional 375 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Renasant by 1.4% during the third quarter. Arizona State Retirement System now owns 28,114 shares of the company’s stock valued at $1,037,000 after acquiring an additional 394 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors.

Insider Transactions at Renasant

In other news, CFO James C. Iv Mabry sold 12,500 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $37.83, for a total value of $472,875.00. Following the transaction, the chief financial officer directly owned 105,337 shares in the company, valued at $3,984,898.71. This trade represents a 10.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Jeanfreau sold 6,000 shares of Renasant 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 of the company’s stock, valued at $2,468,715.36. The trade was a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,850 shares of company stock worth $752,333 in the last ninety days. Insiders own 2.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a research report on Thursday, January 29th. Hovde Group lifted their target price on Renasant from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Wall Street Zen upgraded Renasant from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings raised Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.00.

Renasant Stock Down 2.6%

RNST opened at $35.21 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.90. The firm’s 50 day moving average is $38.05. Renasant Corp has a twelve month low of $26.97 and a twelve month high of $42.11. The stock has a market capitalization of $3.32 billion, a PE ratio of 16.61 and a beta of 0.97.

Renasant (NYSE:RNST) last issued its earnings results on Tuesday, January 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. Renasant had a net margin of 12.55% and a return on equity of 7.53%. The company had revenue of $278.52 million for the quarter, compared to analysts’ expectations of $269.00 million.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, March 17th. Renasant’s dividend payout ratio is presently 43.40%.

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.