Russell Investments Group Ltd. Decreases Holdings in First Horizon Co. (NYSE:FHN)

Russell Investments Group Ltd. decreased its position in First Horizon Co. (NYSE:FHN - Free Report) by 12.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 162,526 shares of the financial services provider's stock after selling 22,205 shares during the period. Russell Investments Group Ltd.'s holdings in First Horizon were worth $3,273,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after buying an additional 7,715,191 shares during the period. Norges Bank purchased a new stake in shares of First Horizon during the fourth quarter worth about $132,418,000. Raymond James Financial Inc. bought a new stake in shares of First Horizon in the fourth quarter worth about $102,467,000. JPMorgan Chase & Co. increased its holdings in First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after purchasing an additional 3,400,811 shares during the period. Finally, Amundi raised its position in First Horizon by 255.6% during the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider's stock valued at $77,104,000 after purchasing an additional 2,683,746 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. Stephens reissued an "overweight" rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Royal Bank of Canada decreased their price objective on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Barclays cut their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon presently has an average rating of "Moderate Buy" and a consensus price target of $22.03.

First Horizon Stock Up 2.7 %

First Horizon stock traded up $0.46 during mid-day trading on Tuesday, hitting $17.06. The company had a trading volume of 7,720,876 shares, compared to its average volume of 6,337,640. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average price is $19.01 and its two-hundred day moving average price is $19.55. The company has a market capitalization of $8.77 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate 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 posted $0.35 EPS. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.52%. First Horizon's dividend payout ratio is 41.67%.

About First Horizon

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.