HDFC Bank Limited $HDB Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,054,351 shares of the bank’s stock after selling 340,529 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of HDFC Bank worth $184,686,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HDB. NewEdge Advisors LLC boosted its position in shares of HDFC Bank by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after buying an additional 922 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after acquiring an additional 13,435 shares in the last quarter. Sivia Capital Partners LLC raised its position in HDFC Bank by 24.5% during the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in HDFC Bank by 464.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after acquiring an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of HDFC Bank by 29.3% in the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock valued at $3,952,000 after purchasing an additional 11,689 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 2.2%

Shares of NYSE:HDB opened at $25.29 on Wednesday. The company has a market capitalization of $129.00 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.15 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 stock’s fifty day simple moving average is $25.00 and its 200-day simple moving average is $29.72.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider directly owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred 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 represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,600 shares of company stock valued at $271,660 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

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).