Bessemer Group Inc. Has $40.53 Million Stake in HDFC Bank Limited $HDB

Key Points

• Bessemer Group Inc. cut its HDFC Bank stake by 53.7% in the first quarter, but still held 1,628,845 shares valued at about $40.53 million.
• Several other institutional investors also adjusted positions in HDFC Bank, while hedge funds and other institutions collectively own 17.61% of the company.
• Analyst sentiment remains weak: recent ratings included multiple sell calls, giving HDFC Bank a consensus rating of "Sell".

Bessemer Group Inc. decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,628,845 shares of the bank's stock after selling 1,891,698 shares during the quarter. Bessemer Group Inc.'s holdings in HDFC Bank were worth $40,526,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in HDB. Larson Financial Group LLC increased its stake in shares of HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after purchasing an additional 403 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of HDFC Bank in the 2nd quarter valued at $75,000. Pin Oak Investment Advisors Inc. boosted its holdings in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock worth $34,000 after purchasing an additional 498 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in HDFC Bank in the third quarter worth $43,000. Finally, Bell Investment Advisors Inc boosted its holdings in HDFC Bank by 260.9% in the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock worth $34,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Insider Buying and Selling at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 6,000 shares of the firm's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the sale, the insider directly owned 848,558 shares in the company, valued at $7,586,108.52. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 21,600 shares of company stock valued at $189,560. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reissued a "sell (d+)" rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Finally, Zacks Research lowered HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, HDFC Bank presently has a consensus rating of "Sell".

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $26.36 on Friday. The stock's 50-day moving average is $24.92 and its 200-day moving average is $28.16. The company has a market cap of $134.50 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.22 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $22.91 and a 52-week high of $39.81.

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).

Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.