Thrivent Financial for Lutherans Sells 371,046 Shares of First Horizon Co. (NYSE:FHN)

Thrivent Financial for Lutherans decreased its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 59.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,435 shares of the financial services provider's stock after selling 371,046 shares during the period. Thrivent Financial for Lutherans' holdings in First Horizon were worth $5,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Citigroup Inc. raised its holdings in shares of First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider's stock valued at $14,724,000 after acquiring an additional 285,108 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of First Horizon in the 4th quarter worth about $304,000. Merit Financial Group LLC bought a new stake in shares of First Horizon during the 4th quarter valued at about $453,000. Smith Group Asset Management LLC purchased a new position in shares of First Horizon during the fourth quarter valued at about $1,813,000. Finally, Cerity Partners LLC boosted its position in shares of First Horizon by 44.9% during the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider's stock valued at $1,779,000 after purchasing an additional 35,479 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

Insider Buying and Selling

In other First Horizon 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 transaction, the chief executive officer now 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 filing with the SEC, which is available through this link. 0.87% of the stock is owned by company insiders.

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First Horizon Price Performance

Shares of FHN stock traded down $0.05 on Friday, hitting $19.24. 5,246,993 shares of the stock traded hands, compared to its average volume of 6,197,596. 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 Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The firm has a 50 day simple moving average of $20.69 and a two-hundred day simple moving average of $19.28. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.19 and a beta of 0.86.

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

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays boosted their target price on First Horizon from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Bank of America upped 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. Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Wells Fargo & Company upped their price target on First Horizon from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their target price on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.23.

First Horizon 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.