US Bancorp DE trimmed its stake in ING Groep (NYSE:ING - Free Report) by 31.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,508 shares of the financial services provider's stock after selling 77,338 shares during the period. US Bancorp DE's holdings in ING Groep were worth $3,042,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ING. Diversify Wealth Management LLC lifted its holdings in ING Groep by 5.3% in the third quarter. Diversify Wealth Management LLC now owns 38,651 shares of the financial services provider's stock worth $647,000 after buying an additional 1,956 shares during the period. First Trust Direct Indexing L.P. lifted its position in ING Groep by 2.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 136,555 shares of the financial services provider's stock valued at $2,480,000 after acquiring an additional 3,209 shares during the period. Fortitude Family Office LLC bought a new stake in ING Groep during the third quarter worth about $25,000. Mediolanum International Funds Ltd purchased a new stake in ING Groep in the third quarter worth about $7,972,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of ING Groep by 27.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 118,237 shares of the financial services provider's stock valued at $2,147,000 after purchasing an additional 25,432 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on ING shares. Barclays downgraded ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd. Citigroup upgraded ING Groep to a "strong-buy" rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.
Check Out Our Latest Stock Analysis on ING Groep
ING Groep Stock Down 4.1 %
NYSE ING traded down $0.70 during mid-day trading on Wednesday, reaching $16.29. The stock had a trading volume of 2,717,713 shares, compared to its average volume of 2,325,389. The stock has a market cap of $56.99 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 6.60 and a beta of 1.52. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The company has a fifty day moving average price of $17.65 and a 200 day moving average price of $17.50.
About ING Groep
(
Free Report)
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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