Principal Financial Group Inc. Has $19.06 Million Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Principal Financial Group Inc. grew its position in shares of Trustmark Co. (NASDAQ:TRMK) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598,969 shares of the financial services provider’s stock after buying an additional 37,989 shares during the period. Principal Financial Group Inc. owned approximately 0.98% of Trustmark worth $19,059,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 351 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Trustmark during the first quarter worth about $52,000. Innealta Capital LLC bought a new position in Trustmark in the 2nd quarter valued at about $61,000. nVerses Capital LLC acquired a new position in shares of Trustmark in the 3rd quarter valued at approximately $67,000. Finally, CWM LLC lifted its holdings in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the period. Institutional investors own 67.64% of the company’s stock.

Insider Activity

In other news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Trustmark Trading Down 1.3 %

NASDAQ TRMK opened at $38.24 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 11.55 and a beta of 0.72. Trustmark Co. has a twelve month low of $22.11 and a twelve month high of $40.60. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average is $33.69 and its 200 day moving average is $31.85.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period last year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that Trustmark Co. will post 2.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Analyst Ratings Changes

TRMK has been the topic of a number of recent analyst reports. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Hovde Group upped their price objective on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson lifted their target price on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.