Envestnet Asset Management Inc. Has $1.27 Million Stock Position in Renasant Co. (NASDAQ:RNST)

Envestnet Asset Management Inc. boosted its position in shares of Renasant Co. (NASDAQ:RNST) by 15.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,318 shares of the financial services provider’s stock after purchasing an additional 4,922 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Renasant worth $1,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Renasant by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 606,884 shares of the financial services provider’s stock worth $20,592,000 after purchasing an additional 63,956 shares during the last quarter. Principal Financial Group Inc. increased its position in Renasant by 49.0% in the 1st quarter. Principal Financial Group Inc. now owns 459,124 shares of the financial services provider’s stock valued at $15,578,000 after acquiring an additional 150,929 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Renasant by 40.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,062 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 6,100 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Renasant in the first quarter worth about $460,000. Finally, Keybank National Association OH lifted its position in shares of Renasant by 2.8% during the first quarter. Keybank National Association OH now owns 32,330 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 866 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Price Performance

RNST opened at $35.53 on Friday. The company has a fifty day moving average price of $36.49 and a two-hundred day moving average price of $35.13. The firm has a market capitalization of $3.38 billion, a PE ratio of 10.87 and a beta of 0.90. Renasant Co. has a 52 week low of $26.97 and a 52 week high of $39.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RNST shares. Keefe, Bruyette & Woods lowered their price target on shares of Renasant from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Raymond James Financial reissued a “strong-buy” rating on shares of Renasant in a research note on Wednesday, July 23rd. Finally, Hovde Group upped their price target on Renasant from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Renasant has a consensus rating of “Moderate Buy” and an average target price of $41.67.

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.