Northwestern Mutual Wealth Management Co. Makes New $935,000 Investment in Pinnacle Financial Partners, Inc. $PNFP

Northwestern Mutual Wealth Management Co. acquired a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,269 shares of the company’s stock, valued at approximately $935,000.

Several other large investors have also modified their holdings of PNFP. Resources Management Corp CT ADV acquired a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at $26,000. Brown Brothers Harriman & Co. acquired a new stake in Pinnacle Financial Partners during the 3rd quarter worth $26,000. BOKF NA boosted its stake in Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management purchased a new position in Pinnacle Financial Partners during the 4th quarter worth $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Pinnacle Financial Partners by 97.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PNFP. Evercore restated an “outperform” rating and issued a $120.00 price objective on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Stephens set a $112.00 price target on Pinnacle Financial Partners in a report on Monday, July 27th. JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Robert W. Baird started coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.35.

Pinnacle Financial Partners Stock Down 0.4%

Shares of NYSE PNFP opened at $100.91 on Wednesday. The firm has a market capitalization of $7.83 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.40 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a 50-day moving average of $101.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio is currently 27.47%.

Insider Buying and Selling

In related news, insider M Terry Turner sold 54,107 shares of Pinnacle Financial Partners stock in a transaction on Monday, August 17th. The stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91. Following the completion of the transaction, the insider directly owned 248,123 shares of the company’s stock, valued at approximately $26,829,539.99. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were purchased at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the completion of the transaction, the insider owned 324,233 shares of the company’s stock, valued at $32,390,876.70. This represents a 3.19% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 177,228 shares of company stock worth $19,153,713. Insiders own 1.30% of the company’s stock.

Pinnacle Financial Partners Company 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.