Schroder Investment Management Group Lowers Position in First Horizon Co. (NYSE:FHN)

Schroder Investment Management Group decreased its holdings in shares of First Horizon Co. (NYSE:FHN) by 40.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 862,975 shares of the financial services provider’s stock after selling 578,511 shares during the quarter. Schroder Investment Management Group owned 0.16% of First Horizon worth $17,389,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Citizens Bank & Trust Co. purchased a new position in First Horizon in the 4th quarter worth approximately $304,000. Merit Financial Group LLC purchased a new position in First Horizon in the fourth quarter worth $453,000. Smith Group Asset Management LLC purchased a new position in First Horizon in the fourth quarter worth $1,813,000. Johnson Investment Counsel Inc. raised its position in First Horizon by 2.8% during the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock valued at $53,604,000 after purchasing an additional 72,339 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in First Horizon during the fourth quarter valued at about $442,000. 80.28% of the stock is currently owned by institutional investors.

Insider Activity

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 transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of research reports. 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 report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Raymond James decreased their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Trading Up 2.6 %

Shares of FHN opened at $19.64 on Thursday. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.19 and a beta of 0.86. The firm’s 50-day moving average price is $20.53 and its 200-day moving average price is $19.41. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $0.32 EPS. Sell-side analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

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.