Assetmark Inc. Decreases Stock Holdings in ING Groep (NYSE:ING)

Assetmark Inc. lessened its holdings in ING Groep (NYSE:ING) by 32.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,230 shares of the financial services provider’s stock after selling 11,062 shares during the quarter. Assetmark Inc.’s holdings in ING Groep were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its stake in ING Groep by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 1,105 shares during the last quarter. Blue Square Asset Management LLC grew its position in shares of ING Groep by 2.4% in the 3rd quarter. Blue Square Asset Management LLC now owns 124,961 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 2,959 shares during the last quarter. Lincluden Management Ltd. raised its stake in ING Groep by 0.8% during the 3rd quarter. Lincluden Management Ltd. now owns 314,117 shares of the financial services provider’s stock worth $5,704,000 after acquiring an additional 2,642 shares in the last quarter. Diversify Wealth Management LLC lifted its position in ING Groep by 5.3% in the third quarter. Diversify Wealth Management LLC now owns 38,651 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 1,956 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in ING Groep by 2.4% in the third quarter. First Trust Direct Indexing L.P. now owns 136,555 shares of the financial services provider’s stock valued at $2,480,000 after acquiring an additional 3,209 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Up 1.7 %

Shares of NYSE:ING opened at $15.74 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $55.06 billion, a P/E ratio of 7.06, a P/E/G ratio of 5.99 and a beta of 1.52. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The firm has a fifty day moving average price of $17.32 and a 200 day moving average price of $17.47.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

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.