HDFC Bank Limited $HDB Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 4,709,766 shares of the bank’s stock after selling 106,335 shares during the quarter. Royal London Asset Management Ltd.’s holdings in HDFC Bank were worth $172,095,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Larson Financial Group LLC boosted its holdings in HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after buying an additional 739 shares during the last quarter. Accent Capital Management LLC boosted its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after buying an additional 459 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of HDFC Bank during the second quarter worth approximately $75,000. Finally, Pin Oak Investment Advisors Inc. boosted its stake in HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4%

HDB opened at $24.15 on Friday. The company’s 50-day moving average price is $25.00 and its 200 day moving average price is $29.93. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The firm has a market cap of $123.21 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.65.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Insider Activity at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the sale, the insider directly owned 848,558 shares in the company, valued at approximately $7,586,108.52. This trade represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,600 shares of company stock valued at $271,660 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank 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).