First Horizon Co. (NYSE:FHN) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 19.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,626,107 shares of the financial services provider's stock after selling 1,377,984 shares during the period. Clearbridge Investments LLC owned 1.06% of First Horizon worth $113,310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Versant Capital Management Inc grew its stake in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new position in shares of First Horizon in the fourth quarter worth approximately $32,000. True Wealth Design LLC purchased a new stake in shares of First Horizon in the third quarter worth $36,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of First Horizon during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Trading Down 6.1 %

Shares of FHN traded down $1.06 during trading hours on Friday, reaching $16.16. 11,098,975 shares of the company traded hands, compared to its average volume of 6,222,471. The stock's fifty day moving average price is $20.36 and its 200 day moving average price is $19.40. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 period last year, the business earned $0.32 earnings per share. Sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.71%. First Horizon's dividend payout ratio is presently 44.12%.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FHN shares. Royal Bank of Canada upped their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Raymond James decreased their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, First Horizon currently has an average rating of "Moderate Buy" and a consensus target price of $22.23.

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.