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

Principal Financial Group Inc. increased its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) 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 0.98% of Trustmark worth $19,059,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock worth $4,001,000 after buying an additional 69,779 shares during the period. State Street Corp raised its holdings in shares of Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock valued at $98,355,000 after acquiring an additional 24,450 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in Trustmark in the second quarter worth about $1,081,000. World Investment Advisors LLC bought a new position in Trustmark during the 3rd quarter worth about $499,000. Finally, 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 purchasing an additional 64,334 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, 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 sale, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the firm's 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 transaction, the director now directly owns 16,500 shares of the company's stock, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,206 shares of company stock valued at $1,347,991. Insiders own 1.50% of the company's stock.

Trustmark Stock Down 1.3 %

Shares of TRMK stock traded down $0.47 during trading hours on Friday, reaching $35.89. 185,248 shares of the company's stock were exchanged, compared to its average volume of 281,767. Trustmark Co. has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The stock's 50 day moving average is $37.10 and its 200-day moving average is $33.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 10.84 and a beta of 0.75.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its 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. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period in the prior year, the company posted $0.64 EPS. Analysts predict that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark's dividend payout ratio (DPR) is presently 27.79%.

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.