Legal & General Group Plc trimmed its holdings in shares of First Horizon National Corp (NYSE:FHN) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 393,009 shares of the financial services provider’s stock after selling 21,818 shares during the quarter. Legal & General Group Plc owned 0.12% of First Horizon National worth $7,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of First Horizon National by 147.1% in the first quarter. Prudential Financial Inc. now owns 497,514 shares of the financial services provider’s stock valued at $9,368,000 after purchasing an additional 296,160 shares in the last quarter. Swiss National Bank raised its stake in First Horizon National by 0.8% during the first quarter. Swiss National Bank now owns 509,549 shares of the financial services provider’s stock worth $9,595,000 after acquiring an additional 3,900 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in First Horizon National by 2.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,366,568 shares of the financial services provider’s stock worth $25,733,000 after acquiring an additional 34,497 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in First Horizon National by 8.1% during the first quarter. Thrivent Financial for Lutherans now owns 76,386 shares of the financial services provider’s stock worth $1,438,000 after acquiring an additional 5,697 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in First Horizon National by 91.8% during the first quarter. First Mercantile Trust Co. now owns 7,615 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 3,644 shares in the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.

FHN has been the subject of several recent analyst reports. SunTrust Banks dropped their price objective on First Horizon National to $20.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. Stephens reiterated a “$17.03” rating and set a $18.50 price objective on shares of First Horizon National in a research note on Wednesday, July 18th. Zacks Investment Research upgraded First Horizon National from a “strong sell” rating to a “hold” rating in a research note on Friday. UBS Group lowered First Horizon National from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $19.00 in a research note on Wednesday, July 18th. Finally, ValuEngine lowered First Horizon National from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.89.

In other news, Director Mark A. Emkes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The shares were acquired at an average price of $17.68 per share, for a total transaction of $88,400.00. Following the completion of the acquisition, the director now directly owns 57,996 shares in the company, valued at $1,025,369.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott M. Niswonger purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was purchased at an average price of $18.20 per share, for a total transaction of $1,820,000.00. Following the acquisition, the director now owns 639,403 shares of the company’s stock, valued at $11,637,134.60. The disclosure for this purchase can be found here. Insiders have bought 130,000 shares of company stock worth $2,352,400 in the last 90 days. Company insiders own 1.75% of the company’s stock.

Shares of FHN stock opened at $17.91 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.28. The firm has a market cap of $5.82 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. First Horizon National Corp has a 52 week low of $16.51 and a 52 week high of $20.86.

First Horizon National (NYSE:FHN) last announced its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $438.46 million for the quarter, compared to analysts’ expectations of $447.95 million. First Horizon National had a return on equity of 9.64% and a net margin of 10.74%. equities analysts predict that First Horizon National Corp will post 1.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Thursday, September 6th. First Horizon National’s payout ratio is presently 43.24%.

First Horizon National Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Read More: Return on Equity (ROE)

Institutional Ownership by Quarter for First Horizon National (NYSE:FHN)

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