Sound Income Strategies LLC Sells 367,519 Shares of First Horizon Co. (NYSE:FHN)

Sound Income Strategies LLC trimmed its holdings in shares of First Horizon Co. (NYSE:FHN – Get Rating) by 98.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,686 shares of the financial services provider’s stock after selling 367,519 shares during the quarter. Sound Income Strategies LLC’s holdings in First Horizon were worth $115,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in shares of First Horizon by 15.6% in the 1st quarter. Private Advisor Group LLC now owns 29,962 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 4,036 shares in the last quarter. Panagora Asset Management Inc. increased its position in First Horizon by 22.9% in the first quarter. Panagora Asset Management Inc. now owns 17,303 shares of the financial services provider’s stock worth $406,000 after buying an additional 3,224 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of First Horizon by 10.8% in the first quarter. Great West Life Assurance Co. Can now owns 310,733 shares of the financial services provider’s stock worth $7,507,000 after buying an additional 30,189 shares during the period. Blair William & Co. IL lifted its position in shares of First Horizon by 2.1% during the 1st quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock valued at $666,000 after buying an additional 575 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of First Horizon by 3,619.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,003,120 shares of the financial services provider’s stock valued at $23,563,000 after acquiring an additional 976,149 shares during the period. 77.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Horizon

In related news, EVP Terry Lawson Akins sold 4,694 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $24.67, for a total transaction of $115,800.98. Following the completion of the transaction, the executive vice president now owns 145,691 shares in the company, valued at $3,594,196.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Horizon news, CEO D Bryan Jordan sold 93,157 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $24.80, for a total transaction of $2,310,293.60. Following the completion of the transaction, the chief executive officer now owns 1,396,259 shares in the company, valued at approximately $34,627,223.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Terry Lawson Akins sold 4,694 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $24.67, for a total value of $115,800.98. Following the sale, the executive vice president now directly owns 145,691 shares in the company, valued at $3,594,196.97. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of First Horizon in a research note on Thursday. They set a “sell” rating on the stock.

First Horizon Stock Down 4.0 %

FHN opened at $14.93 on Friday. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s fifty day moving average is $23.25 and its 200 day moving average is $23.72. First Horizon Co. has a fifty-two week low of $13.40 and a fifty-two week high of $24.92.

First Horizon (NYSE:FHN – Get Rating) last announced its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. First Horizon had a return on equity of 12.98% and a net margin of 25.66%. The business had revenue of $882.00 million for the quarter, compared to the consensus estimate of $883.23 million. During the same period in the previous year, the business earned $0.48 earnings per share. On average, sell-side analysts forecast that First Horizon Co. will post 1.89 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, March 16th. First Horizon’s dividend payout ratio (DPR) is currently 39.22%.

First Horizon Company Profile

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First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through three segments: Regional Banking, Specialty Banking, and Corporate.