First Horizon Co. (NYSE:FHN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in shares of First Horizon Co. (NYSE:FHN) by 6.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,082,352 shares of the financial services provider’s stock after selling 72,241 shares during the period. Legal & General Group Plc owned about 0.20% of First Horizon worth $21,799,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of 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 worth $29,000 after purchasing an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FHN has been the subject of several research analyst reports. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Robert W. Baird raised First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Monday, April 7th. Stephens reissued an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Wells Fargo & Company reduced their target price on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target for the company. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $22.30.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

First Horizon Trading Down 0.1 %

Shares of FHN stock opened at $16.92 on Monday. The stock has a market cap of $8.70 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 0.60. 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 Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The business has a fifty day simple moving average of $19.72 and a 200-day simple moving average of $19.49.

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

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

About First Horizon

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.