Sei Investments Co. Has $12.40 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Sei Investments Co. reduced its position in First Horizon Co. (NYSE:FHN) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 615,624 shares of the financial services provider’s stock after selling 1,017 shares during the period. Sei Investments Co.’s holdings in First Horizon were worth $12,399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in 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 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $32,000. True Wealth Design LLC bought a new stake in shares of First Horizon during the third quarter worth approximately $36,000. Finally, Lee Danner & Bass Inc. acquired a new position in First Horizon in the fourth quarter valued at approximately $50,000. Institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly 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 SEC, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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. Royal Bank of Canada upped their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Barclays upped their price target on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Citigroup lifted their price objective on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Price Performance

Shares of NYSE FHN opened at $19.24 on Friday. The company has a fifty day moving average price of $20.65 and a 200 day moving average price of $19.33. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a market cap of $9.89 billion, a PE ratio of 14.14, a PEG ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

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.