LMR Partners LLP acquired a new stake in ICICI Bank Ltd. (NYSE:IBN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 995,287 shares of the company’s stock, valued at approximately $7,146,000. ICICI Bank accounts for about 1.1% of LMR Partners LLP’s holdings, making the stock its 13th largest position.
Several other hedge funds have also modified their holdings of IBN. State Street Corp boosted its stake in shares of ICICI Bank by 2.1% in the first quarter. State Street Corp now owns 3,918,416 shares of the company’s stock worth $28,057,000 after buying an additional 78,742 shares during the period. Prudential Financial Inc. boosted its stake in shares of ICICI Bank by 15.4% in the first quarter. Prudential Financial Inc. now owns 478,900 shares of the company’s stock worth $3,429,000 after buying an additional 64,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ICICI Bank by 167.0% in the first quarter. Renaissance Technologies LLC now owns 6,111,200 shares of the company’s stock worth $43,756,000 after buying an additional 3,822,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ICICI Bank by 17.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,505 shares of the company’s stock worth $455,000 after buying an additional 9,489 shares during the period. Finally, AXA boosted its stake in shares of ICICI Bank by 3.5% in the first quarter. AXA now owns 559,515 shares of the company’s stock worth $4,006,000 after buying an additional 18,892 shares during the period. 22.47% of the stock is currently owned by institutional investors.
ICICI Bank Ltd. (NYSE:IBN) traded up 1.382% during trading on Tuesday, hitting $7.705. 4,468,076 shares of the stock were exchanged. The stock has a market cap of $22.40 billion, a P/E ratio of 14.704 and a beta of 1.98. ICICI Bank Ltd. has a 52 week low of $5.15 and a 52 week high of $9.27. The stock has a 50 day moving average of $7.76 and a 200-day moving average of $7.35.
Separately, JPMorgan Chase & Co. cut shares of ICICI Bank from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 16th.
About ICICI Bank
ICICI Bank Limited is a banking company. The Bank is a financial services group providing a range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.
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