Diversify Advisory Services LLC Decreases Stock Holdings in ING Groep (NYSE:ING)

Diversify Advisory Services LLC cut its stake in shares of ING Groep (NYSE:ING) by 26.5% in the third quarter, HoldingsChannel.com reports. The fund owned 11,642 shares of the financial services provider’s stock after selling 4,189 shares during the period. Diversify Advisory Services LLC’s holdings in ING Groep were worth $197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ING. Natixis Advisors LLC raised its position in shares of ING Groep by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock worth $33,082,000 after purchasing an additional 18,472 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in ING Groep by 17.9% during the 1st 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 in the last quarter. American Century Companies Inc. raised 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 valued at $19,275,000 after acquiring an additional 60,908 shares during the last quarter. Raymond James & Associates lifted its position in shares of ING Groep by 49.7% in the third 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 in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of ING Groep by 14.0% in the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock worth $10,804,000 after acquiring an additional 80,398 shares during the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ING Groep Price Performance

ING stock opened at $16.96 on Friday. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The firm has a market capitalization of $59.33 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 6.54 and a beta of 1.52. The business has a 50 day simple moving average of $17.69 and a 200-day simple moving average of $17.46.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The business had revenue of $6.15 billion during the quarter. During the same period last year, the business earned $0.65 earnings per share. Equities research analysts anticipate that ING Groep will post 2.06 earnings per share for the current fiscal year.

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.