Meridian Wealth Management LLC Invests $2.76 Million in ING Groep (NYSE:ING)

Meridian Wealth Management LLC acquired a new position in shares of ING Groep (NYSE:ING - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 152,115 shares of the financial services provider's stock, valued at approximately $2,762,000.

Other institutional investors have also modified their holdings of the company. Natixis Advisors LLC raised its position in ING Groep by 71.3% in the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider's stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in ING Groep in the 3rd quarter valued at $7,972,000. Bank of New York Mellon Corp raised its position in ING Groep by 150.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider's stock valued at $10,267,000 after purchasing an additional 359,535 shares during the last quarter. Benson Investment Management Company Inc. purchased a new stake in ING Groep in the 3rd quarter valued at $5,204,000. Finally, Acadian Asset Management LLC purchased a new stake in ING Groep in the 2nd quarter valued at $4,626,000. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Groep Stock Down 2.3 %

Shares of ING Groep stock opened at $15.28 on Friday. The company has a market cap of $53.45 billion, a P/E ratio of 6.85, a PEG ratio of 6.09 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 one year low of $12.77 and a one year high of $18.72. The firm has a fifty day moving average of $17.09 and a two-hundred day moving average of $17.43.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Citigroup upgraded shares of ING Groep to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Barclays downgraded shares of ING Groep from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, October 22nd.

ING Groep 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.

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