First Horizon Co. (NYSE:FHN) Position Lessened by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in shares of First Horizon Co. (NYSE:FHN) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,077 shares of the financial services provider’s stock after selling 1,594 shares during the period. Securian Asset Management Inc.’s holdings in First Horizon were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp bought a new position in First Horizon during the fourth quarter valued at about $30,000. Kentucky Trust Co bought a new position in First Horizon during the fourth quarter valued at about $32,000. Covestor Ltd raised its holdings in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in First Horizon during the third quarter valued at about $36,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Up 3.0 %

FHN stock opened at $19.02 on Friday. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The company has a market cap of $9.92 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The business’s 50-day simple moving average is $20.94 and its 200 day simple moving average is $19.10. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

Analysts Set New Price Targets

FHN has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their target price on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Bank of America raised their target price on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group initiated coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company raised their price target on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.