Park Place Capital Corp Sells 9,518 Shares of ING Groep (NYSE:ING)

Park Place Capital Corp lessened its stake in shares of ING Groep (NYSE:ING) by 33.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,572 shares of the financial services provider’s stock after selling 9,518 shares during the quarter. Park Place Capital Corp’s holdings in ING Groep were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 buying an additional 5,094,340 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ING Groep by 7.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after purchasing an additional 622,037 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of ING Groep by 75.4% in the fourth quarter. Natixis Advisors L.P. now owns 1,802,537 shares of the financial services provider’s stock worth $27,074,000 after purchasing an additional 774,781 shares during the last quarter. Wells Fargo & Company MN increased its holdings in ING Groep by 96.6% during 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 purchasing an additional 655,011 shares during the period. Finally, American Century Companies Inc. raised its position in ING Groep by 1.9% during the 3rd quarter. American Century Companies Inc. now owns 913,069 shares of the financial services provider’s stock valued at $12,034,000 after purchasing an additional 16,871 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Up 2.6 %

Shares of NYSE ING opened at $17.58 on Tuesday. The firm has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $15.60. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.04. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $61.50 billion, a PE ratio of 7.78 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 earnings per share (EPS) for the quarter. The company had revenue of $6.06 billion during the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. Equities analysts expect that ING Groep will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

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

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.