Universal Beteiligungs und Servicegesellschaft mbH Invests $1.94 Million in Renasant Co. (NASDAQ:RNST)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Renasant Co. (NASDAQ:RNST) during the 1st quarter, Holdings Channel.com reports. The fund purchased 57,170 shares of the financial services provider’s stock, valued at approximately $1,940,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Renasant by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,207,451 shares of the financial services provider’s stock valued at $257,666,000 after purchasing an additional 50,934 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Renasant by 4.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,825,410 shares of the financial services provider’s stock valued at $62,228,000 after purchasing an additional 82,170 shares during the last quarter. Jennison Associates LLC grew its holdings in Renasant by 33.5% during the 1st quarter. Jennison Associates LLC now owns 1,567,120 shares of the financial services provider’s stock valued at $53,172,000 after purchasing an additional 393,319 shares during the last quarter. Geode Capital Management LLC grew its holdings in Renasant by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,437,756 shares of the financial services provider’s stock valued at $51,412,000 after purchasing an additional 9,718 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in Renasant by 63.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider’s stock valued at $45,888,000 after purchasing an additional 500,193 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Renasant Price Performance

Renasant stock opened at $37.16 on Thursday. The firm has a 50-day moving average of $36.44 and a two-hundred day moving average of $35.11. Renasant Co. has a 1 year low of $26.97 and a 1 year high of $39.63. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 11.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

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.