Munich Reinsurance Co Stock Corp in Munich Has $3.39 Million Holdings in HDFC Bank Limited $HDB

Munich Reinsurance Co Stock Corp in Munich trimmed its position in HDFC Bank Limited (NYSE:HDB) by 38.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,327 shares of the bank’s stock after selling 85,891 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in HDFC Bank were worth $3,392,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HDB. Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 31.0% in the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock valued at $271,381,000 after buying an additional 7,864,692 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares in the last quarter. Wellington Management Group LLP raised its position in HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after buying an additional 6,386,002 shares during the period. Finally, Invesco Ltd. lifted its stake in HDFC Bank by 98.3% in the 3rd quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after acquiring an additional 6,115,797 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research cut shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

HDFC Bank Price Performance

NYSE HDB opened at $26.19 on Thursday. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The stock’s 50-day moving average is $24.78 and its two-hundred day moving average is $28.59. The firm has a market cap of $133.61 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.26 and a beta of 0.64.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider owned 848,558 shares of the company’s stock, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,600 shares of company stock worth $189,560. 1.00% of the stock is currently owned by insiders.

HDFC Bank 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).