Earnings Wrap-up: Renasant, RLI Corp., WesBanco, More

All three index futures are in the green today as the latest earnings results from America’s leading companies have mostly come in ahead of expectations. Among the stocks that reported earnings recently are Pzena Investment Management, Inc. (NYSE:PZN), Renasant Corp. (NASDAQ:RNST), RLI Corp. (NYSE:RLI), WesBanco Inc (NASDAQ:WSBC), and Wintrust Financial Corp (NASDAQ:WTFC). In this article we’ll take a closer look at the earnings reports of each company and see how the elite funds in our database are positioned in them.

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Pzena Tops Expectations

Pzena Investment Management, Inc. (NYSE:PZN) earned $0.10 per share on revenue of $26.4 million for the second quarter of 2016, beating estimates by $0.01 per share and $0.4 million respectively. Average assets under management for the time period was $26.1 billion, down by 7.8% year-over-year. The weighted average fee was 0.405%, down from the 0.418% mark from a year earlier. Shares of the company are down by around 4% year-to-date. Four top funds owned shares of Pzena Investment Management, Inc. (NYSE:PZN) at the end of the first quarter, unchanged quarter-over-quarter.

Renasant Reports Earnings

Renasant Corp. (NASDAQ:RNST) beat both top and bottom-line estimates with its latest quarterly results, pulling in second quarter EPS of $0.59 on revenue of $112.74 million. Analysts were expecting $0.07 per share and $0.69 million less, respectively. Average return on asset for the time period was 1.08%, up from 1.06% year-over-year. Average return on equity fell to 8.21% from 8.42% in the year earlier. Book value per common share was $26.71, a respectable increase from $23.10 a year ago. Jim Simons‘ Renaissance Technologies was a top shareholder of Renasant Corp. (NASDAQ:RNST) at the end of March, owning 815,339 shares.

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On the next page, we take a closer look at the earnings reports of RLI Corp, WesBanco, and Wintrust Financial.