KMG Fiduciary Partners LLC Has $2.88 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

KMG Fiduciary Partners LLC trimmed its position in First Horizon Co. (NYSE:FHN) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 143,067 shares of the financial services provider’s stock after selling 7,134 shares during the period. KMG Fiduciary Partners LLC’s holdings in First Horizon were worth $2,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after buying an additional 4,116,486 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in First Horizon by 28.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after buying an additional 3,470,346 shares in the last quarter. Millennium Management LLC grew its holdings in First Horizon by 46.5% in the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after buying an additional 4,558,129 shares in the last quarter. Sculptor Capital LP grew its holdings in shares of First Horizon by 18.2% during the 2nd quarter. Sculptor Capital LP now owns 10,200,000 shares of the financial services provider’s stock worth $160,854,000 after purchasing an additional 1,570,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of First Horizon by 0.7% in the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after purchasing an additional 61,397 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Down 0.4 %

First Horizon stock opened at $21.30 on Friday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.36 and a beta of 0.92. 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 52-week low of $12.95 and a 52-week high of $21.72. The firm has a 50 day moving average price of $20.39 and a two-hundred day moving average price of $17.64.

First Horizon (NYSE:FHN) last released its earnings results 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 15.43% and a return on equity of 9.51%. During the same period last year, the business earned $0.32 EPS. Equities analysts predict that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, December 13th. First Horizon’s dividend payout ratio (DPR) is currently 43.48%.

First Horizon announced that its board has approved a stock repurchase program on Tuesday, October 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of analyst reports. Barclays increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Robert W. Baird set a $17.00 price target on shares of First Horizon in a research report on Thursday, October 17th. Royal Bank of Canada raised their target price on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price target on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wedbush lowered shares of First Horizon from an “outperform” rating to a “neutral” rating and cut their target price for the company from $20.00 to $17.00 in a research report on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average price target of $21.35.

Insider Buying and Selling at First Horizon

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the sale, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the sale, the executive vice president now directly owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

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.