HDFC Bank Limited $HDB Shares Purchased by Man Group plc

Man Group plc increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 12,615.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,550,345 shares of the bank’s stock after acquiring an additional 4,514,559 shares during the period. Man Group plc’s holdings in HDFC Bank were worth $166,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Snowden Capital Advisors LLC grew its holdings in HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after acquiring an additional 311 shares during the period. Sequoia Financial Advisors LLC grew its holdings in HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after acquiring an additional 345 shares during the period. Flputnam Investment Management Co. grew its holdings in HDFC Bank by 2.6% during the fourth quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after acquiring an additional 361 shares during the period. Cullen Frost Bankers Inc. grew its holdings in HDFC Bank by 19.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after acquiring an additional 384 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in HDFC Bank by 3.0% during the fourth quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock worth $493,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 2.3%

HDB opened at $24.70 on Thursday. The firm has a market cap of $125.99 billion, a P/E ratio of 14.79, a PEG ratio of 1.17 and a beta of 0.65. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The business’s fifty day simple moving average is $24.98 and its 200 day simple moving average is $29.64.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider directly owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,600 shares of company stock worth $271,660. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).