Connor Clark & Lunn Investment Management Ltd. Invests $2 Million in ING Groep (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in ING Groep (NYSE:ING) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 110,333 shares of the financial services provider’s stock, valued at approximately $2,004,000.

Several other hedge funds have also recently added to or reduced their stakes in ING. PNC Financial Services Group Inc. grew its position in ING Groep by 3.7% in the third quarter. PNC Financial Services Group Inc. now owns 84,236 shares of the financial services provider’s stock valued at $1,530,000 after acquiring an additional 2,980 shares during the period. Caprock Group LLC boosted its stake in shares of ING Groep by 4.9% in the 3rd quarter. Caprock Group LLC now owns 97,105 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 4,519 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of ING Groep in the 3rd quarter worth about $215,000. Natixis Advisors LLC increased its position in shares of ING Groep by 71.3% during the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after purchasing an additional 1,376,713 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in ING Groep by 6.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 22,672 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 1,314 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Price Performance

Shares of ING stock opened at $15.34 on Tuesday. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm’s 50 day moving average is $17.03 and its 200-day moving average is $17.42. The firm has a market capitalization of $53.66 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 5.95 and a beta of 1.52.

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.