Principal Financial Group Inc. Purchases 37,989 Shares of Trustmark Co. (NASDAQ:TRMK)

Principal Financial Group Inc. increased its position in Trustmark Co. (NASDAQ:TRMK) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,969 shares of the financial services provider’s stock after purchasing an additional 37,989 shares during the period. Principal Financial Group Inc.’s holdings in Trustmark were worth $19,059,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Trustmark during the first quarter valued at about $52,000. Innealta Capital LLC acquired a new position in Trustmark during the 2nd quarter valued at about $61,000. nVerses Capital LLC purchased a new position in shares of Trustmark during the third quarter valued at approximately $67,000. Finally, CWM LLC grew its holdings in Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred 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 in the company, valued at $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 this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Trustmark Trading Down 1.3 %

Shares of Trustmark stock opened at $38.24 on Friday. The stock has a market capitalization of $2.34 billion, a P/E ratio of 11.55 and a beta of 0.72. Trustmark Co. has a 52-week low of $22.11 and a 52-week high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $33.69 and its 200 day simple moving average is $31.85.

Trustmark (NASDAQ:TRMK) last posted 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. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.41%. Trustmark’s payout ratio is 27.79%.

Wall Street Analysts Forecast Growth

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