Corebridge Financial Inc. Decreases Stock Position in First Horizon Co. (NYSE:FHN)

Corebridge Financial Inc. lowered its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 599,884 shares of the financial services provider's stock after selling 33,907 shares during the quarter. Corebridge Financial Inc. owned 0.11% of First Horizon worth $12,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FHN. Versant Capital Management Inc grew its position in First Horizon by 160.1% in 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon in the 4th quarter worth approximately $32,000. True Wealth Design LLC bought a new position in shares of First Horizon during the 3rd quarter valued at approximately $36,000. Finally, Lee Danner & Bass Inc. purchased a new stake in First Horizon during the 4th quarter valued at $50,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm'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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.

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First Horizon Stock Down 0.2 %

NYSE FHN traded down $0.05 during trading on Friday, reaching $19.24. 5,246,993 shares of the company's stock traded hands, compared to its average volume of 6,198,325. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. 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 $9.89 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company's 50 day simple moving average is $20.65 and its two-hundred day simple moving average is $19.36.

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

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon's payout ratio is currently 44.12%.

Analyst Ratings Changes

A number of research firms have weighed in on FHN. Barclays boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. 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. UBS Group began coverage on First Horizon in a research report on Tuesday, December 17th. They set a "buy" rating and a $25.00 target price for the company. Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on First Horizon from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.23.

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.