Envestnet Portfolio Solutions Inc. Sells 34,779 Shares of ING Group, N.V. (NYSE:ING)

Envestnet Portfolio Solutions Inc. decreased its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 67.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,777 shares of the financial services provider's stock after selling 34,779 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in ING Group were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Investments LLC bought a new position in shares of ING Group in the fourth quarter worth approximately $41,000. IFP Advisors Inc lifted its holdings in ING Group by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after purchasing an additional 621 shares in the last quarter. Whipplewood Advisors LLC bought a new position in ING Group in the 4th quarter worth approximately $55,000. SRS Capital Advisors Inc. grew its holdings in ING Group by 20.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock valued at $62,000 after buying an additional 665 shares in the last quarter. Finally, Sage Mountain Advisors LLC bought a new stake in shares of ING Group during the fourth quarter valued at approximately $157,000. Institutional investors own 4.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four investment 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. Based on data from MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

ING Group Price Performance

Shares of NYSE ING traded up $0.52 during midday trading on Friday, reaching $22.00. 3,090,127 shares of the stock traded hands, compared to its average volume of 2,314,551. The company's 50 day moving average is $20.71 and its 200 day moving average is $18.56. ING Group, N.V. has a one year low of $15.09 and a one year high of $22.07. 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 stock has a market capitalization of $76.94 billion, a PE ratio of 10.42, a P/E/G ratio of 2.09 and a beta of 1.13.

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

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.