American Century Companies Inc. Has $5.08 Million Stake in First Horizon Co. (NYSE:FHN)

American Century Companies Inc. boosted its holdings in shares of First Horizon Co. (NYSE:FHN) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 252,214 shares of the financial services provider’s stock after acquiring an additional 3,777 shares during the quarter. American Century Companies Inc.’s holdings in First Horizon were worth $5,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $747,822,000 after acquiring an additional 7,715,191 shares during the period. State Street Corp lifted its stake in First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after purchasing an additional 4,116,486 shares during the period. Geode Capital Management LLC boosted its holdings in First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after purchasing an additional 61,397 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $102,467,000. Finally, Amundi raised its holdings in shares of First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock worth $77,104,000 after buying an additional 2,683,746 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Performance

FHN stock opened at $16.16 on Friday. The company has a 50 day moving average price of $20.36 and a 200 day moving average price of $19.40. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $8.31 billion, a PE ratio of 11.88, a price-to-earnings-growth 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 earnings per share 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 company earned $0.32 earnings per share. Analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FHN. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Citigroup boosted their target price on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada boosted their price target 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. Finally, Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

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.