Man Group plc Raises Stock Holdings in HDFC Bank Limited $HDB

Man Group plc raised its position in HDFC Bank Limited (NYSE:HDB) by 12,615.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,550,345 shares of the bank’s stock after buying an additional 4,514,559 shares during the quarter. Man Group plc owned approximately 0.09% of HDFC Bank worth $166,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. Larson Financial Group LLC lifted its stake 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 buying an additional 403 shares during the last quarter. Clearstead Advisors LLC lifted its stake in HDFC Bank by 476.8% in the third 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 increased its holdings in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the period. Pin Oak Investment Advisors Inc. increased its holdings in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after purchasing an additional 498 shares during the period. Finally, Graney & King LLC increased its holdings in shares of HDFC Bank by 100.0% in the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling

In other news, insider Ashish Parthasarthy sold 6,000 shares of the business’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 transaction, the insider owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 31,600 shares of company stock worth $271,660. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Trading Down 2.3%

NYSE: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. The stock’s 50 day simple moving average is $24.98 and its 200-day simple moving average is $29.64. HDFC Bank Limited has a 12-month low of $22.91 and a 12-month high of $39.81.

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).