Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in First Horizon Co. (NYSE:FHN)

Northwestern Mutual Wealth Management Co. trimmed its position in First Horizon Co. (NYSE:FHNGet Rating) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,675 shares of the financial services provider’s stock after selling 1,980 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Horizon were worth $298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FHN. Advisor Group Holdings Inc. raised its stake in shares of First Horizon by 62.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 238,096 shares of the financial services provider’s stock worth $3,890,000 after buying an additional 91,515 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of First Horizon by 11.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 40,454 shares of the financial services provider’s stock worth $661,000 after buying an additional 4,302 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of First Horizon by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 237,820 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 35,535 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of First Horizon in the fourth quarter worth about $25,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of First Horizon by 22.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,877 shares of the financial services provider’s stock worth $243,000 after buying an additional 2,760 shares during the period. 79.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial lifted their price objective on shares of First Horizon to $25.00 in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Insider Transactions at First Horizon

In other news, Chairman Daryl G. Byrd sold 99,458 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $22.71, for a total value of $2,258,691.18. Following the completion of the sale, the chairman now owns 1,732,685 shares in the company, valued at approximately $39,349,276.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Daryl G. Byrd sold 99,458 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $22.71, for a total value of $2,258,691.18. Following the completion of the sale, the chairman now owns 1,732,685 shares in the company, valued at approximately $39,349,276.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony J. Restel sold 153,574 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the completion of the transaction, the insider now directly owns 459,925 shares in the company, valued at approximately $10,582,874.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,377 shares of company stock worth $8,824,237. 1.55% of the stock is currently owned by insiders.

First Horizon Price Performance

FHN stock opened at $22.81 on Wednesday. First Horizon Co. has a 52 week low of $14.67 and a 52 week high of $24.24. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $22.24 and a two-hundred day simple moving average of $22.15. The firm has a market capitalization of $12.20 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06.

First Horizon (NYSE:FHNGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same quarter in the prior year, the business posted $0.58 EPS. Analysts anticipate that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

First Horizon Company Profile

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First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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