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First Horizon Co. is purchased by the State of New Jersey Common Pension Fund D for 65,130 shares (NYSE:FHN)

First Horizon Co. is purchased by the State of New Jersey Common Pension Fund D for 65,130 shares (NYSE:FHN)

The most recent 13F filing that the State of New Jersey Common Pension Fund D submitted to the Securities and Exchange Commission revealed that during the third quarter of 2018, the fund increased its holdings in First Horizon Company (NYSE: FHN) by 27.5%. (SEC). After purchasing an additional 65,130 shares of the company’s stock during the period in question, the institutional investor now has 301,613 shares of the stock held by the financial services provider. At the end of the most recent quarter, the State of New Jersey Common Pension Fund D held 0.06% of First Horizon, worth $6,907,000.

Several other hedge funds have made recent modifications to their holdings in FHN. During the second quarter of the fiscal year, Franklin Resources Inc. brought its total ownership of First Horizon to a level that was 227.5% higher than before. Franklin Resources Inc. increased its ownership of the financial services provider’s stock by an additional 6,773,903 shares during the most recent fiscal quarter, bringing the total number of shares owned by the company to 9,751,787 with a value of $213,174,000. In addition, the Bank of Nova Scotia made a new investment in First Horizon during the second quarter, which resulted in a transaction with a total value of approximately $73,519,000. During the second quarter, FMR LLC increased the amount of money it had invested in First Horizon by 20.7%. FMR LLC now has 16,717,075 shares of the company’s stock after purchasing an additional 2,861,554 shares during the most recent period. This gives the company a market valuation of $365,436,000 after considering FMR LLC’s shares. Goldman Sachs Group Inc. increased the amount of First Horizon stock owned by 62.6% over the year’s first three months. Goldman Sachs Group Inc. now owns a total of 4,302,681 stock held by the financial services provider after making an additional purchase of 1,657,018 shares during the most recent fiscal quarter. The value of these shares as of right now is $101,070,000 in total.

In conclusion, Westchester Capital Management LLC increased First Horizon’s investment percentage by 32.7% during the second quarter. Westchester Capital Management LLC now holds a total of 5,417,685 shares of the financial services provider’s stock following the acquisition of an additional 1,333,518 shares during the most recent period. The value of these shares on the market now is $118,430,000. Institutional investors control the company because they own 77.41% of its shares, making up the majority.

When trading started on Friday, one share of FHN stock was going for $24.65 per share. At the moment, the share price of the company is trading at $24.50, which is higher than the 200-day moving average price of $23.50. Currently, the debt-to-equity ratio stands at 0.22, the quick ratio stands at 0.93, and the current ratio stands at 0.94. The company has a price-to-earnings ratio of 16.66, a market value of $13.23 billion, a price-to-earnings-growth ratio of 2.53, and a beta of 0.93. All of these metrics indicate that the company is fairly valued. In addition, the company has a price-to-earnings ratio of 16.66, which is a relatively high value. First Horizon Company has seen a low of

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