Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in ING Group, N.V. (NYSE:ING)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 67.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,777 shares of the financial services provider's stock after selling 34,779 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ING Group were worth $329,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ING. Northern Trust Corp grew its stake in ING Group by 48.2% during the 4th quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock worth $65,205,000 after purchasing an additional 1,353,054 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of ING Group by 0.8% in the 4th quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock valued at $61,844,000 after buying an additional 31,963 shares during the period. Natixis Advisors LLC grew its position in shares of ING Group by 2.3% during the fourth quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider's stock worth $52,989,000 after buying an additional 74,771 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of ING Group by 7.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,774,430 shares of the financial services provider's stock worth $27,806,000 after buying an additional 121,620 shares in the last quarter. Finally, Causeway Capital Management LLC increased its stake in shares of ING Group by 38.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,491,567 shares of the financial services provider's stock worth $23,373,000 after buying an additional 416,762 shares during the period. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Stock Performance

Shares of ING stock traded up $0.30 during trading hours on Wednesday, hitting $22.30. The stock had a trading volume of 2,023,914 shares, compared to its average volume of 2,312,262. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $77.99 billion, a PE ratio of 10.57, a PEG ratio of 2.08 and a beta of 1.11. The stock's 50 day moving average is $20.83 and its 200 day moving average is $18.65. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $22.33.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. ING Group had a return on equity of 11.68% and a net margin of 27.70%. As a group, research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ING shares. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded shares of ING Group from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ING Group presently has an average rating of "Moderate Buy".

ING Group 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.