Connor Clark & Lunn Investment Management Ltd. Buys New Position in ING Groep (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ING Groep (NYSE:ING - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 110,333 shares of the financial services provider's stock, valued at approximately $2,004,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC grew its holdings in ING Groep by 4.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 13,414 shares of the financial services provider's stock valued at $230,000 after buying an additional 602 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in ING Groep by 3.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 17,500 shares of the financial services provider's stock valued at $300,000 after buying an additional 637 shares in the last quarter. Pzena Investment Management LLC grew its holdings in ING Groep by 1.2% in the 2nd quarter. Pzena Investment Management LLC now owns 53,810 shares of the financial services provider's stock valued at $922,000 after buying an additional 640 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in ING Groep by 6.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider's stock valued at $204,000 after buying an additional 684 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in ING Groep by 6.6% in the 3rd quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider's stock valued at $195,000 after buying an additional 688 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ING. Citigroup upgraded ING Groep to a "strong-buy" rating in a report on Thursday, October 17th. Barclays cut ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut ING Groep from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th.

ING Groep Trading Down 1.6 %

Shares of NYSE ING traded down $0.24 during mid-day trading on Tuesday, reaching $15.10. 2,478,704 shares of the company's stock were exchanged, compared to its average volume of 2,328,122. The firm has a market capitalization of $52.82 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 5.95 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 52-week low of $12.77 and a 52-week high of $18.72. The company's 50-day moving average is $17.03 and its 200-day moving average is $17.42.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.