Renasant Co. (NASDAQ:RNST) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Renasant Co. (NASDAQ:RNST) by 137.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 302,663 shares of the financial services provider’s stock after purchasing an additional 175,392 shares during the period. American Century Companies Inc. owned about 0.48% of Renasant worth $10,820,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Thrivent Financial for Lutherans lifted its stake in Renasant by 74.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 86,951 shares of the financial services provider’s stock valued at $3,109,000 after buying an additional 37,041 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Renasant in the 4th quarter worth about $36,987,000. Cibc World Markets Corp acquired a new stake in Renasant during the 4th quarter valued at $209,000. Swiss National Bank boosted its position in Renasant by 2.3% during the 4th quarter. Swiss National Bank now owns 125,000 shares of the financial services provider’s stock worth $4,469,000 after acquiring an additional 2,800 shares during the period. Finally, HighTower Advisors LLC grew its position in Renasant by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 11,503 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 377 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

Insider Buying and Selling at Renasant

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RNST shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Raymond James lowered their price target on Renasant from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday. Piper Sandler lifted their target price on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Stephens upped their target price on shares of Renasant from $44.00 to $47.00 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.17.

Renasant Stock Performance

Shares of RNST opened at $33.98 on Thursday. The firm has a market cap of $2.16 billion, a P/E ratio of 10.39 and a beta of 1.02. 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 twelve month low of $27.98 and a twelve month high of $39.63. The firm’s 50 day moving average price is $36.30 and its two-hundred day moving average price is $35.51.

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 paid a dividend of $0.22 per share. The ex-dividend date was Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.59%. Renasant’s dividend payout ratio is currently 26.91%.

Renasant 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.