Principal Financial Group Inc. Acquires 2,726 Shares of City Holding (NASDAQ:CHCO)

Principal Financial Group Inc. raised its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,010 shares of the bank's stock after purchasing an additional 2,726 shares during the period. Principal Financial Group Inc. owned 0.53% of City worth $9,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Barclays PLC lifted its stake in City by 125.3% during the third quarter. Barclays PLC now owns 28,845 shares of the bank's stock valued at $3,385,000 after purchasing an additional 16,044 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of City by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank's stock worth $1,116,000 after acquiring an additional 404 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of City by 66.6% in the 3rd quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock worth $2,937,000 after acquiring an additional 9,999 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of City during the fourth quarter worth $227,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank's stock valued at $62,044,000 after purchasing an additional 15,910 shares during the last quarter. Institutional investors own 72.43% of the company's stock.

City Price Performance

CHCO traded down $0.69 during midday trading on Tuesday, hitting $118.72. The company had a trading volume of 14,266 shares, compared to its average volume of 53,599. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The firm's 50-day simple moving average is $118.71 and its 200-day simple moving average is $120.58. The company has a market capitalization of $1.75 billion, a PE ratio of 15.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

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City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Equities research analysts predict that City Holding will post 7.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CHCO. Keefe, Bruyette & Woods boosted their target price on shares of City from $120.00 to $130.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday, January 24th.

Insider Buying and Selling

In other news, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the sale, the director now directly owns 1,014 shares in the company, valued at $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David L. Bumgarner sold 556 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the transaction, the chief financial officer now owns 9,395 shares of the company's stock, valued at approximately $1,127,400. This represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226 shares of company stock worth $147,200 over the last ninety days. Company insiders own 2.45% of the company's stock.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.