Man Group plc Has $2.70 Million Holdings in First Horizon Co. (NYSE:FHN)

Man Group plc trimmed its position in First Horizon Co. (NYSE:FHN - Free Report) by 32.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,190 shares of the financial services provider's stock after selling 63,034 shares during the period. Man Group plc's holdings in First Horizon were worth $2,703,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FHN. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter worth $30,000. Kentucky Trust Co acquired a new position in First Horizon during the fourth quarter worth about $32,000. Lee Danner & Bass Inc. acquired a new position in First Horizon during the fourth quarter worth about $50,000. MassMutual Private Wealth & Trust FSB raised its position in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 591 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Down 0.5%

Shares of FHN stock traded down $0.11 on Wednesday, reaching $20.08. 910,751 shares of the company's stock traded hands, compared to its average volume of 6,165,966. The business's 50 day moving average price is $18.54 and its two-hundred day moving average price is $19.89. The company has a market capitalization of $10.18 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. 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 12-month low of $14.09 and a 12-month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, equities analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

Analysts Set New Price Targets

FHN has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on shares of First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Bank of America upped their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, First Horizon has an average rating of "Moderate Buy" and an average price target of $22.41.

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.