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

State of New Jersey Common Pension Fund D increased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 31.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,925 shares of the financial services provider’s stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Pinnacle Financial Partners by 97.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the financial services provider’s stock valued at $4,327,000 after purchasing an additional 23,292 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 146.1% in the 3rd quarter. Voya Investment Management LLC now owns 25,183 shares of the financial services provider’s stock worth $2,362,000 after buying an additional 14,951 shares during the last quarter. Jones Financial Companies Lllp grew its position in Pinnacle Financial Partners by 585.5% during the third quarter. Jones Financial Companies Lllp now owns 18,419 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 15,732 shares during the period. Advisors Capital Management LLC grew its position in shares of Pinnacle Financial Partners by 10.5% during the 2nd quarter. Advisors Capital Management LLC now owns 34,233 shares of the financial services provider’s stock valued at $3,780,000 after acquiring an additional 3,252 shares during the period. Finally, Woodmont Investment Counsel LLC increased its stake in shares of Pinnacle Financial Partners by 43.1% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the financial services provider’s stock worth $8,853,000 after purchasing an additional 28,445 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Insider Transactions at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew J. Jr. Gregory bought 1,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Stock Up 1.9%

PNFP stock opened at $101.06 on Friday. The stock has a 50-day simple moving average of $98.22 and a two-hundred day simple moving average of $94.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners, Inc. has a twelve month low of $81.57 and a twelve month high of $120.46. The firm has a market capitalization of $7.84 billion, a PE ratio of 12.84, a PEG ratio of 0.48 and a beta of 1.03.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 6th will be given a $0.50 dividend. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 24.72%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. Truist Financial set a $100.00 price objective on Pinnacle Financial Partners in a report on Friday, January 9th. Finally, Barclays upped their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.