QRG Capital Management Inc. Sells 28,251 Shares of ING Groep (NYSE:ING)

QRG Capital Management Inc. cut its holdings in shares of ING Groep (NYSE:ING) by 22.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,947 shares of the financial services provider’s stock after selling 28,251 shares during the quarter. QRG Capital Management Inc.’s holdings in ING Groep were worth $1,742,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ING. Fortitude Family Office LLC bought a new position in ING Groep during the third quarter worth $25,000. Summit Securities Group LLC bought a new position in shares of ING Groep during the 2nd quarter worth about $31,000. Rothschild Investment LLC acquired a new position in shares of ING Groep during the second quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of ING Groep in the second quarter valued at about $38,000. Finally, Mather Group LLC. grew its position in ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after buying an additional 782 shares in the last quarter. 4.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

ING Groep Price Performance

Shares of ING stock opened at $16.16 on Friday. The stock’s fifty day simple moving average is $17.62 and its 200 day simple moving average is $17.49. ING Groep has a one year low of $12.77 and a one year high of $18.72. The firm has a market cap of $56.53 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 6.68 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 1.12.

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.