Bessemer Group Inc. decreased its stake in shares of Renasant Corporation (NASDAQ:RNST) by 27.6% during the second quarter, Holdings Channel reports. The firm owned 40,400 shares of the financial services provider’s stock after selling 15,400 shares during the period. Bessemer Group Inc.’s holdings in Renasant Corporation were worth $1,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Great Lakes Advisors LLC acquired a new position in shares of Renasant Corporation during the first quarter valued at about $245,000. Dean Investment Associates LLC raised its position in shares of Renasant Corporation by 9.2% in the first quarter. Dean Investment Associates LLC now owns 125,415 shares of the financial services provider’s stock valued at $4,978,000 after buying an additional 10,590 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Renasant Corporation by 5.8% in the first quarter. Parametric Portfolio Associates LLC now owns 56,035 shares of the financial services provider’s stock valued at $2,224,000 after buying an additional 3,062 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Renasant Corporation by 58.8% in the first quarter. UBS Asset Management Americas Inc. now owns 22,095 shares of the financial services provider’s stock valued at $877,000 after buying an additional 8,177 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Renasant Corporation by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 290,347 shares of the financial services provider’s stock valued at $11,524,000 after buying an additional 22,504 shares during the period. Institutional investors and hedge funds own 66.65% of the company’s stock.

Shares of Renasant Corporation (NASDAQ RNST) opened at 39.62 on Friday. The company has a 50 day moving average price of $42.64 and a 200-day moving average price of $41.53. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 17.87 and a beta of 1.04. Renasant Corporation has a one year low of $32.51 and a one year high of $45.32.

Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The firm had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $112.43 million. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.41%. During the same quarter last year, the company posted $0.59 EPS. Equities analysts predict that Renasant Corporation will post $2.34 earnings per share for the current fiscal year.

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Several research analysts have issued reports on the company. Zacks Investment Research upgraded Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a report on Friday, June 9th. BidaskClub lowered Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on Renasant Corporation and gave the company a “hold” rating in a report on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Renasant Corporation currently has an average rating of “Hold” and a consensus target price of $43.50.

In related news, Director Albert J. Dale III sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $42.54, for a total transaction of $638,100.00. Following the completion of the transaction, the director now owns 25,620 shares of the company’s stock, valued at approximately $1,089,874.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James W. Gray sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $39.94, for a total transaction of $199,700.00. Following the transaction, the executive vice president now directly owns 43,604 shares of the company’s stock, valued at approximately $1,741,543.76. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 7,000 shares of company stock valued at $295,600 and have sold 33,000 shares valued at $1,389,600. Company insiders own 3.86% of the company’s stock.

Renasant Corporation Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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Institutional Ownership by Quarter for Renasant Corporation (NASDAQ:RNST)

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