Principal Financial Group Inc. Increases Stock Position in Trustmark Co. (NASDAQ:TRMK)

Principal Financial Group Inc. lifted its holdings in Trustmark Co. (NASDAQ:TRMK) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 598,969 shares of the financial services provider’s stock after acquiring an additional 37,989 shares during the quarter. Principal Financial Group Inc.’s holdings in Trustmark were worth $19,059,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after buying an additional 64,334 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after acquiring an additional 102,268 shares in the last quarter. State Street Corp raised its position in shares of Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Geode Capital Management LLC boosted its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after purchasing an additional 333,390 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trustmark

In related news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Trustmark Trading Up 0.7 %

Shares of Trustmark stock opened at $36.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $2.22 billion, a PE ratio of 10.98 and a beta of 0.75. Trustmark Co. has a 1-year low of $25.24 and a 1-year high of $40.73. The company’s fifty day simple moving average is $37.08 and its 200-day simple moving average is $33.53.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Hovde Group increased their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.20.

Trustmark Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.