ING Groep (NYSE:ING) Short Interest Update

ING Groep (NYSE:ING - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,070,000 shares, a drop of 21.3% from the October 15th total of 3,900,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.1% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ING. Barclays downgraded ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd. Citigroup raised ING Groep to a "strong-buy" rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.

ING Groep Stock Up 1.6 %

Shares of ING traded up $0.25 during midday trading on Friday, hitting $15.74. The stock had a trading volume of 3,733,426 shares, compared to its average volume of 2,322,657. The company has a 50 day simple moving average of $17.36 and a two-hundred day simple moving average of $17.47. ING Groep has a twelve month low of $12.77 and a twelve month high of $18.72. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 5.99 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

Institutional Trading of ING Groep

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of ING Groep by 14.0% in the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider's stock valued at $10,804,000 after acquiring an additional 80,398 shares during the last quarter. Capital Research Global Investors increased its position in shares of ING Groep by 51.2% in the first quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider's stock valued at $3,360,000 after acquiring an additional 68,966 shares during the last quarter. Virtu Financial LLC increased its position in shares of ING Groep by 172.6% in the first quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider's stock valued at $1,284,000 after acquiring an additional 49,307 shares during the last quarter. Creative Planning grew its holdings in ING Groep by 18.4% during the second quarter. Creative Planning now owns 209,405 shares of the financial services provider's stock worth $3,589,000 after purchasing an additional 32,534 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in ING Groep by 30.8% during the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider's stock worth $4,849,000 after purchasing an additional 62,801 shares during the period. Institutional investors and hedge funds own 4.49% of the company's stock.

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.