State of New Jersey Common Pension Fund D Acquires 6,277 Shares of Pinnacle Financial Partners, Inc. $PNFP

State of New Jersey Common Pension Fund D increased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 31.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,925 shares of the financial services provider’s stock after acquiring an additional 6,277 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Pinnacle Financial Partners were worth $2,432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Pinnacle Financial Partners during the 2nd quarter worth $113,461,000. The Manufacturers Life Insurance Company increased its position in shares of Pinnacle Financial Partners by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,010,422 shares of the financial services provider’s stock worth $111,561,000 after purchasing an additional 31,858 shares during the period. Jennison Associates LLC raised its stake in Pinnacle Financial Partners by 6.7% in the second quarter. Jennison Associates LLC now owns 686,744 shares of the financial services provider’s stock valued at $75,823,000 after purchasing an additional 43,162 shares in the last quarter. Channing Capital Management LLC lifted its position in Pinnacle Financial Partners by 1.8% during the second quarter. Channing Capital Management LLC now owns 671,556 shares of the financial services provider’s stock worth $74,146,000 after purchasing an additional 12,162 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Pinnacle Financial Partners by 0.5% during the second quarter. JPMorgan Chase & Co. now owns 652,562 shares of the financial services provider’s stock worth $72,049,000 after buying an additional 3,441 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the purchase, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This represents a 2.06% increase 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, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman owned 202,505 shares in the company, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $101.06 on Friday. The stock’s 50 day moving average is $98.22 and its 200 day moving average is $94.31. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $120.46. The firm has a market cap of $7.84 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Analyst Ratings Changes

Several research firms recently issued reports on PNFP. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Piper Sandler lifted their target price on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods raised their price target on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, UBS Group set a $106.00 price target on Pinnacle Financial Partners in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.