SageView Advisory Group LLC Has $314,000 Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

SageView Advisory Group LLC cut its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,743 shares of the financial services provider’s stock after selling 664 shares during the period. SageView Advisory Group LLC’s holdings in Pinnacle Financial Partners were worth $314,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Pinnacle Financial Partners during the 4th quarter worth about $101,798,000. Raymond James Financial Inc. bought a new stake in Pinnacle Financial Partners during the fourth quarter worth about $44,737,000. FMR LLC boosted its position in Pinnacle Financial Partners by 10.6% during the fourth quarter. FMR LLC now owns 3,003,310 shares of the financial services provider’s stock valued at $343,549,000 after purchasing an additional 286,894 shares during the last quarter. Wellington Management Group LLP grew its stake in Pinnacle Financial Partners by 16.5% in the fourth quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider’s stock valued at $172,072,000 after purchasing an additional 213,505 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after purchasing an additional 208,938 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNFP. Hovde Group decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays dropped their price objective on Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Stephens reiterated an “overweight” rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.70.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ PNFP opened at $94.36 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 15.78 and a beta of 0.94. The stock’s fifty day moving average price is $106.39 and its two-hundred day moving average price is $111.89. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. During the same period in the prior year, the company posted $1.53 earnings per share. On average, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.02%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.05%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the completion of the transaction, the director now owns 40,991 shares in the company, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock valued at $11,421,320 over the last quarter. 1.46% of the stock is owned by company insiders.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.