Park Avenue Securities LLC Cuts Stock Holdings in ING Groep (NYSE:ING)

Park Avenue Securities LLC lessened its holdings in ING Groep (NYSE:ING) by 57.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,039 shares of the financial services provider’s stock after selling 53,780 shares during the period. Park Avenue Securities LLC’s holdings in ING Groep were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its position in ING Groep by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 63,776,162 shares of the financial services provider’s stock valued at $957,918,000 after acquiring an additional 5,094,340 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of ING Groep by 2,566.3% during the fourth quarter. BNP Paribas Financial Markets now owns 894,059 shares of the financial services provider’s stock valued at $13,429,000 after buying an additional 860,527 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of ING Groep by 75.4% in the 4th quarter. Natixis Advisors L.P. now owns 1,802,537 shares of the financial services provider’s stock valued at $27,074,000 after buying an additional 774,781 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ING Groep by 96.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock valued at $20,021,000 after buying an additional 655,011 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of ING Groep by 7.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after buying an additional 622,037 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Groep Stock Performance

ING opened at $17.06 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.04. The firm has a 50 day moving average of $17.12 and a two-hundred day moving average of $15.56. The firm has a market capitalization of $59.66 billion, a PE ratio of 7.55 and a beta of 1.54.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 EPS for the quarter. The company had revenue of $6.06 billion for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. On average, analysts anticipate that ING Groep will post 2.01 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

ING Groep 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.