Liberty Mutual Group Asset Management Inc. Sells 4,197 Shares of Pinnacle Financial Partners (PNFP)

Liberty Mutual Group Asset Management Inc. decreased its position in Pinnacle Financial Partners (NASDAQ:PNFP) by 22.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,528 shares of the financial services provider’s stock after selling 4,197 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Pinnacle Financial Partners were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PNFP. Bank of Montreal Can raised its holdings in Pinnacle Financial Partners by 104.6% in the 4th quarter. Bank of Montreal Can now owns 6,393 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 3,268 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Pinnacle Financial Partners by 7.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 320,836 shares of the financial services provider’s stock valued at $21,272,000 after acquiring an additional 20,866 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Pinnacle Financial Partners in the 4th quarter valued at approximately $350,000. SG Americas Securities LLC raised its holdings in Pinnacle Financial Partners by 95.7% in the 4th quarter. SG Americas Securities LLC now owns 14,871 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 7,272 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Pinnacle Financial Partners by 51.7% in the 4th quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock valued at $189,706,000 after acquiring an additional 974,772 shares in the last quarter. 76.40% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on the company. BidaskClub raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. FIG Partners raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 18th. Finally, Hovde Group raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Wednesday, April 18th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.22.

In related news, CFO Harold R. Carpenter sold 11,835 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $68.44, for a total transaction of $809,987.40. Following the sale, the chief financial officer now directly owns 99,021 shares in the company, valued at approximately $6,776,997.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $66.06, for a total value of $198,180.00. Following the sale, the insider now owns 43,794 shares in the company, valued at $2,893,031.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,568 shares of company stock worth $7,825,256. 3.39% of the stock is owned by corporate insiders.

Shares of Pinnacle Financial Partners opened at $67.80 on Friday, according to MarketBeat. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $70.30. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $5.30 billion, a PE ratio of 18.99, a P/E/G ratio of 0.90 and a beta of 1.04.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a return on equity of 7.52% and a net margin of 24.09%. The business had revenue of $218.60 million during the quarter, compared to analysts’ expectations of $220.48 million. During the same period in the prior year, the firm posted $0.83 EPS. Pinnacle Financial Partners’s quarterly revenue was up 83.5% compared to the same quarter last year. equities research analysts expect that Pinnacle Financial Partners will post 4.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.69%.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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