Artemis Investment Management LLP Buys 12,455 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Artemis Investment Management LLP raised its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 2.6% in the 4th quarter, HoldingsChannel reports. The firm owned 482,672 shares of the financial services provider’s stock after purchasing an additional 12,455 shares during the period. Artemis Investment Management LLP’s holdings in Pinnacle Financial Partners were worth $55,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in shares of Pinnacle Financial Partners by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider’s stock worth $18,282,000 after acquiring an additional 28,327 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Pinnacle Financial Partners during the third quarter worth about $3,606,000. Geode Capital Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock worth $130,192,000 after purchasing an additional 8,604 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pinnacle Financial Partners by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider’s stock valued at $90,141,000 after purchasing an additional 9,856 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock valued at $96,332,000 after purchasing an additional 208,938 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. The trade was a 4.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Ingram sold 3,610 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $126.07, for a total transaction of $455,112.70. Following the completion of the transaction, the director now owns 139,489 shares of the company’s stock, valued at $17,585,378.23. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,661 shares of company stock valued at $9,563,127 in the last 90 days. Insiders own 1.87% of the company’s stock.

Wall Street Analyst Weigh In

PNFP has been the subject of several research reports. UBS Group assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. Citigroup boosted their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Company raised their price objective on Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Hold” and an average price target of $122.73.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $119.91 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.26 billion, a P/E ratio of 22.80 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The firm has a 50-day moving average of $119.66 and a 200-day moving average of $103.99.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.