ING Group, N.V. $ING Stock Position Reduced by Ellevest Inc.

Ellevest Inc. cut its stake in shares of ING Group, N.V. (NYSE:ING) by 11.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,231 shares of the financial services provider’s stock after selling 3,022 shares during the period. Ellevest Inc.’s holdings in ING Group were worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ING. Allspring Global Investments Holdings LLC grew its position in ING Group by 68.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider’s stock valued at $931,000 after purchasing an additional 19,332 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of ING Group in the first quarter worth about $274,000. Penserra Capital Management LLC bought a new stake in shares of ING Group during the 1st quarter worth $126,000. TD Private Client Wealth LLC boosted its holdings in shares of ING Group by 83.3% during the 1st quarter. TD Private Client Wealth LLC now owns 5,957 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,707 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of ING Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 34,273 shares of the financial services provider’s stock worth $671,000 after buying an additional 1,350 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Stock Up 1.0%

Shares of NYSE:ING opened at $25.44 on Thursday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $80.07 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.79 and a beta of 1.05. The company has a 50 day moving average of $24.80 and a 200-day moving average of $22.97. ING Group, N.V. has a one year low of $15.09 and a one year high of $26.27.

ING Group (NYSE:ING) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. On average, sell-side analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Cfra Research raised ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Finally, Weiss Ratings raised ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, ING Group has an average rating of “Buy”.

ING Group 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.