Principal Financial Group Inc. Decreases Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Principal Financial Group Inc. lowered its position in shares of Trustmark Co. (NASDAQ:TRMK) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 591,932 shares of the financial services provider’s stock after selling 7,037 shares during the period. Principal Financial Group Inc. owned about 0.97% of Trustmark worth $20,937,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Trustmark by 225.2% in the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying an additional 3,430 shares during the period. Arlington Trust Co LLC raised its holdings in shares of Trustmark by 77.0% during the third quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 2,309 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Trustmark by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 415 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Trustmark in the third quarter valued at $248,000. Finally, Aptus Capital Advisors LLC purchased a new position in Trustmark during the 3rd quarter valued at $537,000. Institutional investors own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

TRMK has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their target price on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Hovde Group lifted 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. DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott began coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and an average price target of $38.67.

Trustmark Stock Performance

Shares of TRMK opened at $36.06 on Tuesday. 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 stock has a market cap of $2.19 billion, a P/E ratio of 9.91 and a beta of 0.76. The business’s 50 day moving average price is $36.17 and its 200-day moving average price is $35.15. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Equities research analysts anticipate that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.24 dividend. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.66%. Trustmark’s payout ratio is presently 26.37%.

About Trustmark

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.