HDFC Bank Limited $HDB Stake Trimmed by C WorldWide Group Holding A S

Key Points

• C WorldWide Group Holding A S cut its HDFC Bank stake by 19.8% in the fourth quarter, selling 1.86 million shares and leaving it with 7.5 million shares worth about $274.2 million.
• Several other institutional investors increased their HDFC Bank holdings, including Schroder Investment Management, JPMorgan Chase, and Franklin Resources, while hedge funds and institutions now own 17.61% of the stock.
• Insiders also sold shares recently, and analyst sentiment remains cautious: HDFC Bank has a consensus rating of “Reduce” after recent hold and sell calls.

C WorldWide Group Holding A S lowered its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,505,340 shares of the bank's stock after selling 1,857,488 shares during the quarter. HDFC Bank accounts for about 4.8% of C WorldWide Group Holding A S's investment portfolio, making the stock its 8th largest position. C WorldWide Group Holding A S owned approximately 0.15% of HDFC Bank worth $274,245,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank's stock valued at $861,554,000 after purchasing an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in HDFC Bank by 104.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank's stock valued at $656,035,000 after buying an additional 9,808,890 shares in the last quarter. Franklin Resources Inc. grew its holdings in HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank's stock valued at $474,310,000 after buying an additional 7,147,440 shares in the last quarter. Wellington Management Group LLP grew its holdings in HDFC Bank by 94.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank's stock valued at $449,381,000 after buying an additional 6,386,002 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in HDFC Bank by 6.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,392,854 shares of the bank's stock valued at $452,835,000 after buying an additional 791,226 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Insiders Place Their Bets

In related 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 completion of the transaction, the insider directly owned 848,558 shares of the company's stock, valued at approximately $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company's stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is currently owned by insiders.

HDFC Bank Price Performance

Shares of HDB opened at $25.01 on Monday. The company has a 50 day simple moving average of $27.06 and a two-hundred day simple moving average of $32.17. HDFC Bank Limited has a 1 year low of $23.91 and a 1 year high of $39.81. The firm has a market cap of $127.56 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.68.

Wall Street Analyst Weigh In

HDB has been the subject of a number of research analyst reports. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. 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, HDFC Bank currently has a consensus rating of "Reduce".

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).

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