Cullen Investment Group LTD. Has $444,000 Holdings in First Horizon Co. (NYSE:FHN)

Cullen Investment Group LTD. decreased its position in First Horizon Co. (NYSE:FHN) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 22,047 shares of the financial services provider’s stock after selling 837 shares during the period. Cullen Investment Group LTD.’s holdings in First Horizon were worth $444,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after purchasing an additional 4,116,486 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Horizon by 28.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after purchasing an additional 3,470,346 shares in the last quarter. Millennium Management LLC increased its stake 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 during the last quarter. Sculptor Capital LP increased its stake in First Horizon by 18.2% in the 2nd quarter. Sculptor Capital LP now owns 10,200,000 shares of the financial services provider’s stock valued at $160,854,000 after buying an additional 1,570,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in First Horizon by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after buying an additional 61,397 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the sale, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares in the company, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

Shares of FHN stock opened at $20.78 on Wednesday. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.51 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 company has a 50-day simple moving average of $20.26 and a 200 day simple moving average of $17.55.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, sell-side analysts predict that First Horizon Co. will post 1.49 earnings per share for the current year.

First Horizon declared that its board has approved a share repurchase program on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.89%. First Horizon’s dividend payout ratio (DPR) is presently 43.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stephens lifted their target price on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Robert W. Baird set a $17.00 price target on First Horizon in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price objective on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price objective 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.35.

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.