City Holding Company (NASDAQ:CHCO) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of City Holding Company (NASDAQ:CHCO) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,645 shares of the bank’s stock after purchasing an additional 2,635 shares during the period. Principal Financial Group Inc. owned 0.55% of City worth $9,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank’s stock worth $31,071,000 after acquiring an additional 51,055 shares during the last quarter. Norges Bank bought a new position in shares of City during the 4th quarter valued at about $5,203,000. GAMMA Investing LLC lifted its stake in City by 13,747.8% during the first quarter. GAMMA Investing LLC now owns 37,943 shares of the bank’s stock valued at $4,457,000 after buying an additional 37,669 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in City by 117.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 42,159 shares of the bank’s stock valued at $4,995,000 after buying an additional 22,741 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of City by 153.1% in the fourth quarter. Citadel Advisors LLC now owns 25,365 shares of the bank’s stock worth $3,005,000 after purchasing an additional 15,342 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

City Price Performance

NASDAQ CHCO opened at $125.92 on Tuesday. The company has a 50 day simple moving average of $120.48 and a 200-day simple moving average of $118.21. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.78 and a beta of 0.54. City Holding Company has a 52-week low of $102.22 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. The firm had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a net margin of 30.62% and a return on equity of 16.15%. Equities research analysts predict that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 annualized dividend and a yield of 2.51%. City’s dividend payout ratio (DPR) is presently 39.60%.

Insider Buying and Selling at City

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the sale, the executive vice president owned 2,830 shares in the company, valued at approximately $328,902.60. This trade represents a 33.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Parsons acquired 2,200 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the purchase, the director owned 2,700 shares of the company’s stock, valued at $330,426. The trade was a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 2,899 shares of company stock worth $339,590 over the last 90 days. Insiders own 1.87% of the company’s stock.

City 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.