Northwestern Mutual Wealth Management Co. Increases Stock Position in HDFC Bank Limited $HDB

Northwestern Mutual Wealth Management Co. grew its holdings in HDFC Bank Limited (NYSE:HDB) by 1,694.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 49,645 shares of the bank’s stock after buying an additional 46,879 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in HDFC Bank were worth $1,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Schroder Investment Management Group raised 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 worth $861,554,000 after purchasing an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. grew its position in HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after buying an additional 9,808,890 shares during the period. Franklin Resources Inc. grew its position in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after buying an additional 7,147,440 shares during the period. Wellington Management Group LLP grew its position in shares of HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after purchasing an additional 6,386,002 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of HDFC Bank by 6.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 12,392,854 shares of the bank’s stock valued at $452,835,000 after purchasing an additional 791,226 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Insider Buying and Selling at HDFC Bank

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 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. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction dated 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 $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is owned by company insiders.

HDFC Bank Price Performance

Shares of HDB stock opened at $23.76 on Thursday. The firm has a market cap of $121.20 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.15 and a beta of 0.68. HDFC Bank Limited has a 1-year low of $23.66 and a 1-year high of $39.81. The firm has a fifty day moving average of $25.46 and a two-hundred day moving average of $30.97.

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).