Ritholtz Wealth Management Lowers Position in ING Groep (NYSE:ING)

Ritholtz Wealth Management lessened its stake in ING Groep (NYSE:ING) by 2.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,694 shares of the financial services provider’s stock after selling 1,194 shares during the quarter. Ritholtz Wealth Management’s holdings in ING Groep were worth $718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Veriti Management LLC purchased a new position in shares of ING Groep in the fourth quarter worth $37,000. Bessemer Group Inc. purchased a new stake in ING Groep during the fourth quarter valued at $41,000. AdvisorNet Financial Inc raised its stake in ING Groep by 81.8% during the first quarter. AdvisorNet Financial Inc now owns 3,844 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,730 shares in the last quarter. TD Ameritrade Investment Management LLC purchased a new stake in ING Groep during the fourth quarter valued at $61,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in ING Groep by 193.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,552 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 6,302 shares in the last quarter. 3.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ING opened at $13.42 on Friday. ING Groep has a twelve month low of $6.63 and a twelve month high of $14.28. The stock has a market capitalization of $52.29 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.42 and a beta of 1.98. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.61. The company has a fifty day moving average price of $13.05.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.41 billion. ING Groep had a net margin of 16.01% and a return on equity of 5.33%. As a group, sell-side analysts forecast that ING Groep will post 1.35 EPS for the current year.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of ING Groep in a research note on Monday, May 10th. AlphaValue raised shares of ING Groep to a “sell” rating in a research note on Friday, February 19th. UBS Group reaffirmed a “buy” rating on shares of ING Groep in a research note on Friday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ING Groep in a research note on Monday, April 12th. Finally, Barclays downgraded shares of ING Groep from an “equal weight” rating to an “underweight” rating in a research note on Friday, June 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. ING Groep presently has an average rating of “Buy” and a consensus price target of $15.00.

ING Groep Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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