Legal & General Group Plc Has $2 Million Stake in City Holding Company (CHCO)
Legal & General Group Plc lifted its stake in City Holding Company (NASDAQ:CHCO) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,361 shares of the bank’s stock after buying an additional 2,327 shares during the period. Legal & General Group Plc owned approximately 0.19% of City Holding worth $2,000,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHCO. SG Americas Securities LLC purchased a new position in shares of City Holding in the first quarter worth about $108,000. Victory Capital Management Inc. purchased a new position in shares of City Holding in the first quarter worth about $167,000. State of Alaska Department of Revenue increased its holdings in shares of City Holding by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock worth $202,000 after buying an additional 1,361 shares during the period. Miles Capital Inc. increased its holdings in shares of City Holding by 0.3% in the first quarter. Miles Capital Inc. now owns 3,262 shares of the bank’s stock worth $210,000 after buying an additional 10 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in shares of City Holding by 11.1% in the first quarter. Mason Street Advisors LLC now owns 3,642 shares of the bank’s stock worth $235,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 62.53% of the company’s stock.
In related news, CAO Jeffrey Dale Legge sold 899 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total value of $60,727.45. Following the sale, the chief accounting officer now directly owns 7,151 shares of the company’s stock, valued at approximately $483,050.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 2,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $62.78, for a total transaction of $125,560.00. Following the completion of the sale, the chief executive officer now directly owns 72,984 shares in the company, valued at $4,581,935.52. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by company insiders.
Several research analysts have recently commented on CHCO shares. Zacks Investment Research downgraded City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub downgraded City Holding from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $70.33.
City Holding Company (CHCO) opened at 68.48 on Friday. The stock has a market cap of $1.07 billion, a P/E ratio of 17.92 and a beta of 0.85. The company’s 50-day moving average price is $63.18 and its 200-day moving average price is $65.11. City Holding Company has a one year low of $48.40 and a one year high of $74.90.
City Holding (NASDAQ:CHCO) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. City Holding had a net margin of 29.07% and a return on equity of 12.62%. The firm had revenue of $46.18 million during the quarter, compared to the consensus estimate of $46.45 million. During the same quarter last year, the firm earned $0.83 EPS. Analysts forecast that City Holding Company will post $3.87 EPS for the current fiscal year.
About City Holding
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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