Renasant Co. (NASDAQ:RNST) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Renasant Co. (NASDAQ:RNST) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,302 shares of the financial services provider’s stock after selling 2,103 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Renasant worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RNST. State Street Corp lifted its stake in Renasant by 26.5% during the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock valued at $109,522,000 after buying an additional 705,344 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Renasant by 81.1% during the third quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider’s stock valued at $8,559,000 after acquiring an additional 117,950 shares during the period. Principal Financial Group Inc. lifted its position in shares of Renasant by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider’s stock valued at $11,018,000 after acquiring an additional 8,710 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Renasant by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 734,744 shares of the financial services provider’s stock worth $23,879,000 after purchasing an additional 131,821 shares during the period. Finally, Franklin Resources Inc. grew its position in Renasant by 122.0% during the 3rd quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider’s stock worth $910,000 after purchasing an additional 15,203 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

Renasant Trading Down 4.3 %

NASDAQ:RNST opened at $29.37 on Friday. The company has a market capitalization of $1.87 billion, a P/E ratio of 8.98 and a beta of 1.02. The stock’s 50 day moving average price is $36.04 and its 200 day moving average price is $35.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. Renasant Co. has a 52 week low of $27.98 and a 52 week high of $39.63.

Renasant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%. Renasant’s dividend payout ratio is currently 26.91%.

Insider Activity at Renasant

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com lowered Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Raymond James dropped their target price on Renasant from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens raised their price target on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Piper Sandler increased their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.17.

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.