Cerity Partners LLC Purchases 35,479 Shares of First Horizon Co. (NYSE:FHN)

Cerity Partners LLC grew its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 44.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,529 shares of the financial services provider's stock after purchasing an additional 35,479 shares during the quarter. Cerity Partners LLC's holdings in First Horizon were worth $1,779,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in shares of First Horizon by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider's stock valued at $254,000 after acquiring an additional 559 shares during the period. Covestor Ltd lifted its stake in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 651 shares during the last quarter. Access Investment Management LLC grew its holdings in First Horizon by 0.8% during the second quarter. Access Investment Management LLC now owns 87,655 shares of the financial services provider's stock worth $1,382,000 after purchasing an additional 715 shares during the period. Simplicity Wealth LLC increased its position in First Horizon by 2.8% during the second quarter. Simplicity Wealth LLC now owns 29,282 shares of the financial services provider's stock worth $462,000 after buying an additional 786 shares during the last quarter. Finally, KMG Fiduciary Partners LLC raised its stake in First Horizon by 0.6% in the third quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider's stock valued at $2,333,000 after buying an additional 952 shares during the period. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FHN shares. The Goldman Sachs Group raised their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Evercore ISI upped their price objective on shares of First Horizon from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Stephens upped their target price on First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Robert W. Baird set a $17.00 price objective on shares of First Horizon in a research report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on shares of First Horizon from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, First Horizon has a consensus rating of "Moderate Buy" and an average target price of $19.46.

Insiders Place Their Bets

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the director now owns 166,840 shares in the company, valued at $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares in the company, valued at approximately $10,278,937.02. This represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.87% of the company's stock.

First Horizon Trading Down 0.5 %

NYSE FHN traded down $0.11 on Tuesday, reaching $20.62. The company had a trading volume of 3,270,259 shares, compared to its average volume of 6,549,806. First Horizon Co. has a fifty-two week low of $12.95 and a fifty-two week high of $21.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.55 and a beta of 0.91. The business has a 50 day moving average of $17.95 and a two-hundred day moving average of $16.49.

First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter in the prior year, the firm posted $0.27 EPS. Analysts forecast that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.91%. First Horizon's dividend payout ratio (DPR) is currently 43.48%.

First Horizon announced that its Board of Directors has approved a share repurchase program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

First Horizon 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.