First Trust Direct Indexing L.P. Cuts Position in ING Groep (NYSE:ING)

First Trust Direct Indexing L.P. lessened its holdings in ING Groep (NYSE:ING) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,359 shares of the financial services provider’s stock after selling 16,479 shares during the period. First Trust Direct Indexing L.P.’s holdings in ING Groep were worth $2,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of ING Groep in the 4th quarter worth approximately $28,000. GAMMA Investing LLC bought a new stake in shares of ING Groep in the 4th quarter worth approximately $54,000. NBC Securities Inc. raised its holdings in shares of ING Groep by 24.5% in the 4th quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 805 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of ING Groep by 128.5% in the 4th quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 2,808 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Trading Up 0.9 %

NYSE:ING opened at $17.77 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $62.16 billion, a PE ratio of 7.86 and a beta of 1.54. The firm’s 50 day moving average is $17.29 and its 200 day moving average is $15.66. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.04.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 EPS for the quarter. The company had revenue of $6.06 billion for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. Sell-side analysts expect that ING Groep will post 2.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a report on Friday, June 7th.

About ING Groep

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.