California Public Employees Retirement System Has $16.48 Million Holdings in First Horizon Co. (NYSE:FHN)

California Public Employees Retirement System trimmed its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 818,269 shares of the financial services provider's stock after selling 106,877 shares during the period. California Public Employees Retirement System owned 0.15% of First Horizon worth $16,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC bought a new position in shares of First Horizon in the third quarter worth $231,000. Captrust Financial Advisors increased its holdings in First Horizon by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 169,654 shares of the financial services provider's stock valued at $2,635,000 after buying an additional 5,022 shares during the period. Point72 DIFC Ltd acquired a new position in shares of First Horizon in the 3rd quarter valued at approximately $624,000. Quarry LP bought a new stake in shares of First Horizon during the 3rd quarter worth approximately $251,000. Finally, Quantinno Capital Management LP boosted its position in shares of First Horizon by 8.4% during the 3rd quarter. Quantinno Capital Management LP now owns 27,760 shares of the financial services provider's stock worth $431,000 after acquiring an additional 2,145 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Wells Fargo & Company dropped 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 report on Wednesday. Citigroup lifted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. 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. Finally, Bank of America boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.30.

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First Horizon Trading Up 9.4 %

Shares of First Horizon stock traded up $1.55 during midday trading on Wednesday, reaching $18.06. The company had a trading volume of 10,885,383 shares, compared to its average volume of 6,287,075. The stock has a fifty day moving average price of $19.91 and a 200 day moving average price of $19.44. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm has a market cap of $9.29 billion, a PE ratio of 13.28, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the company posted $0.32 EPS. On average, equities analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, March 14th. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm's 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 completion of the sale, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.