M&G Plc Sells 14,835 Shares of HDFC Bank Limited (NYSE:HDB)

M&G Plc lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,239,465 shares of the bank’s stock after selling 14,835 shares during the period. M&G Plc’s holdings in HDFC Bank were worth $78,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in HDB. Capital World Investors increased its stake in shares of HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after purchasing an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank during the second quarter worth approximately $166,709,000. PineStone Asset Management Inc. increased its stake in shares of HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares during the period. CCLA Investment Management increased its stake in HDFC Bank by 100,691.5% during the 1st quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock worth $97,534,000 after acquiring an additional 1,746,998 shares during the period. Finally, Sustainable Growth Advisers LP increased its stake in HDFC Bank by 24.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after acquiring an additional 1,711,784 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.3 %

Shares of HDB opened at $64.46 on Thursday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The business’s fifty day moving average is $62.61 and its 200-day moving average is $60.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $163.23 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.64 and a beta of 0.91.

Analysts Set New Price Targets

A number of equities analysts have commented on HDB shares. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.