Vanguard Trims City Holding Co Stake to 9.4%

TL;DR

**Vanguard cut its CHCO stake to 9.4%, down from 10.0%.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating a change in its beneficial ownership of City Holding Co (CHCO) common stock as of December 29, 2023. Vanguard now beneficially owns 1,444,054 shares, representing 9.4% of the company's outstanding common stock. This is a decrease from their previous filing, where they reported owning 1,544,904 shares or 10.0% of the company. This matters to investors because Vanguard is a significant institutional holder, and a reduction in their stake, even if passive, could signal a slight shift in their portfolio allocation or outlook on CHCO.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, has slightly reduced its stake in City Holding Co, which could be interpreted as a minor shift in institutional sentiment or portfolio rebalancing.

Risk Assessment

Risk Level: low — The change in ownership is a minor adjustment by a passive institutional investor and does not indicate a significant shift in company fundamentals or immediate risk.

Analyst Insight

Investors should note that a major institutional investor has slightly reduced its stake, which could be a minor rebalancing. This doesn't necessarily signal a negative outlook but warrants monitoring future institutional ownership changes.

Key Numbers

• 1,444,054 — Shares Beneficially Owned (Represents Vanguard's current holding in City Holding Co common stock.)
• 9.4% — Percentage of Class (Indicates Vanguard's ownership stake in City Holding Co, a slight decrease from previous filings.)
• 15 — Amendment Number (Shows this is the 15th amendment to Vanguard's Schedule 13G filing for City Holding Co, indicating ongoing adjustments.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• City Holding Co (company) — issuer of the securities
• 1,444,054 (dollar_amount) — number of shares beneficially owned by Vanguard
• 9.4% (dollar_amount) — percentage of City Holding Co's common stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will continue to be a significant, albeit passive, institutional holder of City Holding Co shares. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv0614-cityholdingco.htm (SC 13G/A) — 11KB
• 0001104659-24-020614.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer:

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 25 Gatewater Road, Cross Lanes Charleston, WV 25313-1408

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 177835105

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR