ING Groep (NYSE:ING – Get Free Report) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 4,610,000 shares, an increase of 6.7% from the May 31st total of 4,320,000 shares. Based on an average daily volume of 2,510,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.2% of the shares of the stock are sold short.
Analyst Ratings Changes
Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.
Check Out Our Latest Report on ING Groep
ING Groep Price Performance
ING Groep (NYSE:ING – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 13.22% and a net margin of 32.20%. The business had revenue of $6.06 billion for the quarter. Equities research analysts forecast that ING Groep will post 2.01 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ING Groep
Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of ING Groep by 36.4% during the second quarter. GAMMA Investing LLC now owns 6,001 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,603 shares during the period. Confluence Investment Management LLC lifted its stake in shares of ING Groep by 1.6% during the second quarter. Confluence Investment Management LLC now owns 49,735 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 801 shares during the period. Boston Partners acquired a new position in shares of ING Groep during the first quarter valued at $2,125,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of ING Groep by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after acquiring an additional 257,440 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of ING Groep during the first quarter valued at $441,000. 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.
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