United Services Automobile Association Sells 1,205 Shares of First Horizon Co. (NYSE:FHN)

United Services Automobile Association trimmed its position in shares of First Horizon Co. (NYSE:FHN) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,394 shares of the financial services provider’s stock after selling 1,205 shares during the period. United Services Automobile Association’s holdings in First Horizon were worth $713,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FHN. Citigroup Inc. increased its holdings in shares of First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after acquiring an additional 285,108 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in First Horizon in the 4th quarter valued at $304,000. Merit Financial Group LLC bought a new stake in shares of First Horizon during the 4th quarter valued at $453,000. Smith Group Asset Management LLC acquired a new stake in shares of First Horizon during the 4th quarter worth $1,813,000. Finally, Cerity Partners LLC increased its position in shares of First Horizon by 44.9% in the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 35,479 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Horizon

In related 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 transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FHN shares. Wells Fargo & Company upped their price objective on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. UBS Group started coverage on shares of First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. upped their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Price Performance

Shares of FHN opened at $19.67 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.11 billion, a PE ratio of 14.46, a PEG ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. The business has a 50-day simple moving average of $20.79 and a two-hundred day simple moving average of $19.25.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.32 earnings per share. Analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is currently 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.