First Trust Direct Indexing L.P. Has $2.20 Million Stock Position in ING Groep (NYSE:ING)

First Trust Direct Indexing L.P. lowered its stake in ING Groep (NYSE:ING) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 133,359 shares of the financial services provider’s stock after selling 16,479 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ING Groep were worth $2,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ING. Financial Management Professionals Inc. increased its position in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares during the last quarter. Claro Advisors LLC increased its position in ING Groep by 5.5% during the first quarter. Claro Advisors LLC now owns 13,438 shares of the financial services provider’s stock worth $222,000 after buying an additional 696 shares during the last quarter. Contravisory Investment Management Inc. increased its position in ING Groep by 5.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 12,992 shares of the financial services provider’s stock worth $195,000 after buying an additional 725 shares during the last quarter. NBC Securities Inc. increased its position in ING Groep by 24.5% during the fourth quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock worth $61,000 after buying an additional 805 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in shares of ING Groep by 5.0% during the fourth quarter. Personal CFO Solutions LLC now owns 17,861 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 848 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Trading Up 0.9 %

Shares of NYSE:ING opened at $17.77 on Friday. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.04. The stock has a market cap of $62.16 billion, a PE ratio of 7.86 and a beta of 1.54. The business has a 50 day moving average of $17.29 and a 200-day moving average of $15.66. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 13.22% and a net margin of 32.20%. The company had revenue of $6.06 billion during the quarter. As a group, equities research analysts forecast 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 report on Friday, June 7th.

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.