First Horizon Co. (NYSE:FHN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in First Horizon Co. (NYSE:FHN - Free Report) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 243,359 shares of the financial services provider's stock after selling 51,916 shares during the quarter. Prudential Financial Inc.'s holdings in First Horizon were worth $4,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHN. Versant Capital Management Inc increased its stake 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 worth $29,000 after acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the 4th quarter worth approximately $32,000. True Wealth Design LLC purchased a new position in First Horizon in the third quarter valued at approximately $36,000. Finally, Lee Danner & Bass Inc. acquired a new position in First Horizon during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Performance

Shares of First Horizon stock traded down $1.06 during trading hours on Friday, reaching $16.16. The company's stock had a trading volume of 11,098,975 shares, compared to its average volume of 6,232,609. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The company's 50 day simple moving average is $20.36 and its 200 day simple moving average is $19.42. The stock has a market cap of $8.31 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

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First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 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 in the prior year, the company earned $0.32 earnings per share. As a group, analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FHN. Royal Bank of Canada increased their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Bank of America raised their price objective on First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. Finally, UBS Group started coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective on the stock. One investment 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.23.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

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.