Schroder Investment Management Group Sells 578,511 Shares of First Horizon Co. (NYSE:FHN)

Schroder Investment Management Group lowered its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 40.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 862,975 shares of the financial services provider's stock after selling 578,511 shares during the period. Schroder Investment Management Group owned approximately 0.16% of First Horizon worth $17,389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings 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 worth $29,000 after purchasing an additional 884 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in First Horizon in the 4th quarter valued at $30,000. Kentucky Trust Co acquired a new position in shares of First Horizon in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. bought a new position in shares of First Horizon during the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 2,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

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First Horizon Price Performance

Shares of First Horizon stock traded up $0.30 during midday trading on Monday, reaching $16.51. The company had a trading volume of 12,321,215 shares, compared to its average volume of 6,256,866. The stock has a fifty day simple moving average of $20.27 and a 200 day simple moving average of $19.45. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. 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 company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate 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 previous year, the company posted $0.32 earnings per share. As a group, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FHN. StockNews.com lowered shares of First Horizon from a "hold" rating to a "sell" rating in a research report on Monday, March 31st. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Monday. Stephens reaffirmed an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Citigroup increased their price objective on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada boosted their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.57.

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.