StoneX Group Inc. Sells 9,094 Shares of First Horizon Co. (NYSE:FHN)

StoneX Group Inc. lessened its stake in shares of First Horizon Co. (NYSE:FHN) by 40.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,471 shares of the financial services provider’s stock after selling 9,094 shares during the period. StoneX Group Inc.’s holdings in First Horizon were worth $273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FHN. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of First Horizon during the 4th quarter worth approximately $691,000. Alliancebernstein L.P. increased its holdings in First Horizon by 18.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,272,804 shares of the financial services provider’s stock worth $25,634,000 after buying an additional 196,321 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in First Horizon by 37.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 135,722 shares of the financial services provider’s stock worth $2,733,000 after acquiring an additional 36,816 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in First Horizon by 30.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 55,387 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 12,944 shares during the last quarter. Finally, denkapparat Operations GmbH bought a new position in shares of First Horizon in the 4th quarter valued at about $242,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

Shares of NYSE:FHN opened at $19.64 on Thursday. 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 $13.72 and a 52 week high of $22.44. The firm has a market cap of $10.10 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The firm’s fifty day moving average is $20.53 and its 200-day moving average is $19.41.

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

First Horizon Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

FHN has been the topic of a number of research analyst reports. Citigroup upped their target price on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. UBS Group initiated coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. Bank of America increased their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

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.