Securian Asset Management Inc. Has $807,000 Stock Position in First Horizon Co. (NYSE:FHN)

Securian Asset Management Inc. lowered its position in First Horizon Co. (NYSE:FHN) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,077 shares of the financial services provider’s stock after selling 1,594 shares during the period. Securian Asset Management Inc.’s holdings in First Horizon were worth $807,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised 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 acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new position in shares of First Horizon in the fourth quarter valued at approximately $32,000. Covestor Ltd raised its stake in shares of First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 651 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of First Horizon in the third quarter valued at approximately $36,000. Institutional investors own 80.28% of the company’s stock.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FHN. The Goldman Sachs Group lifted their target price on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods lifted 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 note on Thursday, December 19th. Stephens restated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Barclays boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Price Performance

FHN opened at $19.02 on Friday. The company has a fifty day moving average price of $20.94 and a two-hundred day moving average price of $19.10. 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 capitalization of $9.92 billion, a PE ratio of 13.98, a P/E/G ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping 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 quarter last year, the firm posted $0.32 earnings per share. As a group, analysts anticipate 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 will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is 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.