National Bank of Canada FI Reduces Position in ING Groep (NYSE:ING)

National Bank of Canada FI trimmed its holdings in ING Groep (NYSE:ING) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,900 shares of the financial services provider’s stock after selling 2,020 shares during the quarter. National Bank of Canada FI’s holdings in ING Groep were worth $416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kovitz Investment Group Partners LLC lifted its position in ING Groep by 8.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 21,913 shares of the financial services provider’s stock worth $398,000 after buying an additional 1,782 shares in the last quarter. State Street Corp increased its stake in shares of ING Groep by 1.3% in the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after acquiring an additional 4,542 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of ING Groep by 25.4% during the 3rd quarter. Quantinno Capital Management LP now owns 310,265 shares of the financial services provider’s stock worth $5,634,000 after acquiring an additional 62,867 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of ING Groep during the 3rd quarter valued at about $431,000. Finally, IHT Wealth Management LLC increased its position in ING Groep by 62.5% during the third quarter. IHT Wealth Management LLC now owns 18,621 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 7,159 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Up 1.6 %

ING Groep stock opened at $15.53 on Monday. The company has a market capitalization of $54.33 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 6.07 and a beta of 1.48. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The firm has a 50 day moving average price of $16.30 and a 200 day moving average price of $17.21.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Finally, Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd.

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.