Legal & General Group Plc Invests $4.58 Million in City Holding Company $CHCO

Legal & General Group Plc acquired a new position in City Holding Company (NASDAQ:CHCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,566 shares of the bank’s stock, valued at approximately $4,585,000.

A number of other institutional investors also recently modified their holdings of CHCO. First Trust Advisors LP lifted its position in shares of City by 35.2% during the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock worth $7,374,000 after acquiring an additional 16,060 shares in the last quarter. Renaissance Technologies LLC grew its holdings in City by 55.0% during the 1st quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock valued at $7,373,000 after buying an additional 21,898 shares in the last quarter. BlackRock Inc. bought a new stake in shares of City during the second quarter valued at about $270,231,000. Virtu Financial LLC purchased a new stake in shares of City in the fourth quarter worth about $1,353,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of City by 40.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank’s stock valued at $5,829,000 after acquiring an additional 13,976 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles Hageboeck sold 4,485 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer directly owned 43,998 shares of the company’s stock, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon H. Rowe sold 400 shares of City stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total value of $57,584.00. Following the completion of the transaction, the director owned 10,576 shares in the company, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 444 shares of company stock valued at $59,740. Company insiders own 1.75% of the company’s stock.

City Trading Up 0.7%

CHCO stock opened at $144.95 on Friday. The company has a market capitalization of $2.04 billion, a PE ratio of 15.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a one year low of $113.21 and a one year high of $148.99. The company’s 50 day moving average price is $140.68 and its two-hundred day moving average price is $129.59.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The company had revenue of $81.52 million during the quarter, compared to analysts’ expectations of $80.64 million. As a group, analysts predict that City Holding Company will post 9.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CHCO. Hovde Group upped their target price on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $136.50.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.