CANADA LIFE ASSURANCE Co Sells 14,942 Shares of First Horizon Co. (NYSE:FHN)

CANADA LIFE ASSURANCE Co cut its position in First Horizon Co. (NYSE:FHN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441,035 shares of the financial services provider’s stock after selling 14,942 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in First Horizon were worth $8,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of First Horizon by 169.1% in the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after acquiring an additional 1,185,772 shares in the last quarter. Virtu Financial LLC lifted its holdings in First Horizon by 227.0% in the 3rd quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 23,203 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in First Horizon by 16.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 3,540 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in First Horizon during the 3rd quarter valued at approximately $127,000. Finally, Tidal Investments LLC raised its position in shares of First Horizon by 5.9% during the third quarter. Tidal Investments LLC now owns 66,623 shares of the financial services provider’s stock valued at $1,035,000 after buying an additional 3,722 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Price Performance

Shares of FHN stock opened at $16.57 on Tuesday. The stock has a 50 day moving average price of $19.11 and a 200 day moving average price of $19.57. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $8.52 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.62%. First Horizon’s payout ratio is 41.67%.

Insider Buying and Selling

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 transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FHN has been the subject of several research analyst reports. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday, April 8th. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Royal Bank of Canada reduced their price objective on First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Finally, Bank of America raised their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.03.

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.