SG Americas Securities LLC Purchases 125,055 Shares of Pinnacle Financial Partners, Inc. $PNFP

SG Americas Securities LLC boosted its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 2,647.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,779 shares of the company’s stock after buying an additional 125,055 shares during the quarter. SG Americas Securities LLC owned approximately 0.17% of Pinnacle Financial Partners worth $12,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 1,697.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after purchasing an additional 3,085,867 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Pinnacle Financial Partners in the 3rd quarter worth $187,822,000. Norges Bank purchased a new position in Pinnacle Financial Partners in the 2nd quarter worth $113,461,000. Wellington Management Group LLP lifted its stake in Pinnacle Financial Partners by 51.1% in the third quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company’s stock worth $202,281,000 after purchasing an additional 728,975 shares during the last quarter. Finally, Pentwater Capital Management LP purchased a new stake in Pinnacle Financial Partners during the third quarter valued at about $42,538,000. 87.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PNFP. Wall Street Zen downgraded Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup increased their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, January 26th. Raymond James Financial restated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Barclays lifted their price target on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, TD Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of Pinnacle Financial Partners stock in a transaction dated 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 of the company’s stock, valued at approximately $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 this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Down 2.1%

Shares of NYSE:PNFP opened at $82.94 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market cap of $6.43 billion, a PE ratio of 10.25, a PEG ratio of 0.38 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46.

Pinnacle Financial Partners Dividend Announcement

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

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.