M&G Plc Trims Stock Holdings in HDFC Bank Limited (NYSE:HDB)

M&G PLC lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,239,465 shares of the bank's stock after selling 14,835 shares during the quarter. M&G PLC owned approximately 0.07% of HDFC Bank worth $78,086,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock valued at $741,932,000 after buying an additional 263,690 shares in the last quarter. Sustainable Growth Advisers LP increased its stake in shares of HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock worth $493,884,000 after purchasing an additional 1,711,784 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of HDFC Bank by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank's stock worth $308,214,000 after purchasing an additional 486,653 shares during the last quarter. PineStone Asset Management Inc. raised its holdings 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 valued at $287,488,000 after acquiring an additional 2,391,343 shares during the last quarter. Finally, Capital World Investors boosted its stake in HDFC Bank by 208.6% during the 1st 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 last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research note on Monday, July 22nd. StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, October 12th.

HDFC Bank Trading Down 1.1 %

HDB stock traded down $0.71 during trading on Thursday, reaching $63.75. 1,282,389 shares of the stock were exchanged, compared to its average volume of 3,001,841. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $161.43 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.64 and a beta of 0.91. The business has a 50 day moving average price of $62.61 and a 200-day moving average price of $60.76. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44.

About HDFC Bank

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.