Principal Financial Group Inc. Sells 204,883 Shares of Pinnacle Financial Partners, Inc. $PNFP

Principal Financial Group Inc. lessened its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 586,280 shares of the financial services provider’s stock after selling 204,883 shares during the quarter. Principal Financial Group Inc. owned 0.76% of Pinnacle Financial Partners worth $54,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after purchasing an additional 37,989 shares in the last quarter. Focus Partners Wealth grew its stake in Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock worth $504,000 after buying an additional 581 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Pinnacle Financial Partners in the second quarter worth $45,000. KLP Kapitalforvaltning AS increased its position in shares of Pinnacle Financial Partners by 2.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 16,200 shares of the financial services provider’s stock valued at $1,789,000 after purchasing an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Pinnacle Financial Partners by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the financial services provider’s stock worth $2,385,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $101.85 on Thursday. The stock’s 50-day moving average is $97.52 and its 200 day moving average is $94.11. Pinnacle Financial Partners, Inc. has a 1-year low of $81.57 and a 1-year high of $126.81. The company has a market cap of $7.90 billion, a P/E ratio of 12.94, a PEG ratio of 0.48 and a beta of 1.02. 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 firm also recently disclosed a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is presently 24.72%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial set a $100.00 price target on shares of Pinnacle Financial Partners in a report on Friday, January 9th. DA Davidson began 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 target on the stock. Bank of America started coverage on Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 target price for the company. Royal Bank Of Canada raised shares of Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Finally, Citigroup upped their price target on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.35.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the sale, the chairman owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Company 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.