State of New Jersey Common Pension Fund D Has $2.66 Million Holdings in First Horizon Co. (NYSE:FHN)

State of New Jersey Common Pension Fund D boosted its position in shares of First Horizon Co. (NYSE:FHN) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,104 shares of the financial services provider’s stock after acquiring an additional 11,492 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Horizon were worth $2,657,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in First Horizon by 57.6% during the 1st quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock valued at $6,573,000 after purchasing an additional 155,982 shares during the period. Seven Eight Capital LP acquired a new position in shares of First Horizon during the first quarter worth approximately $2,366,000. O Shaughnessy Asset Management LLC boosted its position in shares of First Horizon by 286.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 65,730 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 48,720 shares during the period. Greenwood Capital Associates LLC grew its stake in shares of First Horizon by 10.1% in the third quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock worth $7,229,000 after acquiring an additional 42,793 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in First Horizon by 127.1% during the third quarter. Harbor Capital Advisors Inc. now owns 105,866 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 59,258 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on FHN shares. Barclays increased their price target on shares of First Horizon from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stephens upped their price target on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $17.00 in a report on Tuesday, September 24th. Finally, Evercore ISI upped their target price on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Insider Transactions at First Horizon

In related news, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the transaction, the executive vice president now directly owns 519,926 shares of the company’s stock, valued at $10,278,937.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the sale, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Trading Up 1.3 %

Shares of First Horizon stock opened at $20.14 on Thursday. First Horizon Co. has a 12-month low of $11.86 and a 12-month high of $20.53. The stock has a market capitalization of $10.68 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $16.03. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter last year, the business posted $0.27 earnings per share. Research analysts expect that First Horizon Co. will post 1.49 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 Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, December 13th. First Horizon’s dividend payout ratio is currently 43.48%.

First Horizon announced that its Board of Directors has approved a share buyback program on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.