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

StoneX Group Inc. cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 40.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the fourth quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC grew its stake in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 591 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Trading Up 2.6 %

NYSE FHN opened at $19.64 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock’s 50-day moving average is $20.53 and its 200-day moving average is $19.41. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The firm has a market cap of $10.10 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the company earned $0.32 EPS. Sell-side analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

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

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FHN shares. JPMorgan Chase & Co. upped their price objective on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Raymond James cut their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.23.

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.