World Asset Management Inc reduced its holdings in ING Groep NV (NYSE:ING) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,081 shares of the financial services provider’s stock after selling 2,599 shares during the period. World Asset Management Inc’s holdings in ING Groep were worth $649,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in ING. JPMorgan Chase & Co. boosted its holdings in shares of ING Groep by 360.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,388,171 shares of the financial services provider’s stock valued at $28,993,000 after acquiring an additional 1,869,498 shares during the last quarter. Deutsche Bank AG boosted its holdings in ING Groep by 577.2% during the fourth quarter. Deutsche Bank AG now owns 1,834,364 shares of the financial services provider’s stock worth $19,554,000 after buying an additional 1,563,502 shares in the last quarter. Thornburg Investment Management Inc. purchased a new stake in ING Groep during the first quarter worth $13,248,000. Parametric Portfolio Associates LLC boosted its holdings in ING Groep by 13.5% during the first quarter. Parametric Portfolio Associates LLC now owns 3,218,184 shares of the financial services provider’s stock worth $39,069,000 after buying an additional 382,189 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in ING Groep during the first quarter worth $1,837,000. 3.48% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ING traded down $0.25 during trading hours on Friday, reaching $10.30. 4,545,233 shares of the company were exchanged, compared to its average volume of 2,112,291. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day moving average of $11.39. The firm has a market cap of $43.20 billion, a price-to-earnings ratio of 6.28 and a beta of 1.29. ING Groep NV has a twelve month low of $10.21 and a twelve month high of $14.97.
A number of analysts recently issued reports on the stock. BNP Paribas downgraded shares of ING Groep from an “outperform” rating to a “neutral” rating in a report on Friday. JPMorgan Chase & Co. raised shares of ING Groep from a “neutral” rating to an “overweight” rating in a report on Wednesday, June 5th. Exane BNP Paribas downgraded shares of ING Groep from an “outperform” rating to a “neutral” rating in a report on Friday. ValuEngine raised shares of ING Groep from a “strong sell” rating to a “sell” rating in a report on Thursday. Finally, Zacks Investment Research raised shares of ING Groep from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.58.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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