Advisors Asset Management Inc. Trims Stake in ING Groep (NYSE:ING)

Advisors Asset Management Inc. reduced its position in ING Groep (NYSE:ING) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 61,641 shares of the financial services provider’s stock after selling 14,185 shares during the quarter. Advisors Asset Management Inc.’s holdings in ING Groep were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Natixis Advisors LLC raised its position in ING Groep by 71.3% in the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted 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 worth $27,962,000 after buying an additional 257,440 shares during the period. American Century Companies Inc. grew its holdings in shares of ING Groep by 5.7% during the second quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock worth $19,275,000 after buying an additional 60,908 shares during the last quarter. Raymond James & Associates increased its position in ING Groep by 49.7% in the 3rd quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after acquiring an additional 263,904 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in ING Groep by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 642,621 shares of the financial services provider’s stock worth $10,597,000 after acquiring an additional 21,263 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ING has been the topic of a number of recent research reports. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

ING Groep Stock Up 0.4 %

ING opened at $15.34 on Tuesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 12 month low of $12.77 and a 12 month high of $18.72. The stock has a market capitalization of $53.66 billion, a P/E ratio of 6.88, a P/E/G ratio of 5.95 and a beta of 1.52. The business has a 50 day simple moving average of $17.03 and a 200-day simple moving average of $17.42.

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.