Deltec Asset Management LLC Decreases Stake in ICICI Bank Ltd. (IBN)
Deltec Asset Management LLC reduced its position in ICICI Bank Ltd. (NYSE:IBN) by 20.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 782,600 shares of the company’s stock after selling 206,000 shares during the period. ICICI Bank comprises approximately 1.4% of Deltec Asset Management LLC’s portfolio, making the stock its 26th largest position. Deltec Asset Management LLC’s holdings in ICICI Bank were worth $5,619,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in IBN. Bank of Montreal Can bought a new stake in shares of ICICI Bank during the second quarter worth $19,238,000. Hermes Investment Management Ltd. boosted its stake in shares of ICICI Bank by 39.3% in the second quarter. Hermes Investment Management Ltd. now owns 7,496,213 shares of the company’s stock worth $53,823,000 after buying an additional 2,115,829 shares in the last quarter. Rockefeller Financial Services Inc. boosted its stake in shares of ICICI Bank by 2.8% in the second quarter. Rockefeller Financial Services Inc. now owns 72,580 shares of the company’s stock worth $521,000 after buying an additional 1,952 shares in the last quarter. Harding Loevner LP boosted its stake in shares of ICICI Bank by 69.4% in the second quarter. Harding Loevner LP now owns 5,941,600 shares of the company’s stock worth $42,661,000 after buying an additional 2,435,100 shares in the last quarter. Finally, River & Mercantile Asset Management LLP boosted its stake in shares of ICICI Bank by 22.6% in the second quarter. River & Mercantile Asset Management LLP now owns 321,150 shares of the company’s stock worth $2,304,000 after buying an additional 59,200 shares in the last quarter. 22.48% of the stock is owned by institutional investors.
ICICI Bank Ltd. (NYSE:IBN) traded up 0.50% during trading on Tuesday, hitting $8.04. The company had a trading volume of 5,771,421 shares. The stock has a 50-day moving average of $7.59 and a 200-day moving average of $7.25. ICICI Bank Ltd. has a one year low of $5.15 and a one year high of $9.27. The stock has a market capitalization of $23.38 billion, a PE ratio of 15.46 and a beta of 1.93.
Separately, JPMorgan Chase & Co. cut 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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