PNC Financial Services Group Inc. Acquires 2,980 Shares of ING Groep (NYSE:ING)

PNC Financial Services Group Inc. boosted its stake in ING Groep (NYSE:ING) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,236 shares of the financial services provider’s stock after purchasing an additional 2,980 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ING Groep were worth $1,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC grew its position in ING Groep by 172.6% in the first quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after acquiring an additional 49,307 shares during the last quarter. Creative Planning lifted its stake in ING Groep by 18.4% in the 2nd quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after purchasing an additional 32,534 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in ING Groep by 30.8% in the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 62,801 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after buying an additional 1,376,713 shares during the last quarter. Finally, Boston Partners bought a new position in shares of ING Groep in the 1st quarter valued at $2,125,000. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Down 1.6 %

Shares of NYSE:ING opened at $15.10 on Wednesday. The business has a fifty day simple moving average of $16.97 and a 200 day simple moving average of $17.41. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The firm has a market cap of $52.82 billion, a P/E ratio of 6.77, a P/E/G ratio of 5.95 and a beta of 1.52. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

Analysts Set New Price Targets

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

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.