ING Group, N.V. $ING Stock Position Lessened by Transmarket Holdings LP

Key Points

• Transmarket Holdings LP reduced its ING Group position by 85.3% in the third quarter, selling 196,732 shares and retaining 33,779 shares valued at approximately $1.2 million.
• ING shares opened at $32.83, below the 50-day moving average of $35.01 but above the 200-day average of $31.25. The stock has traded between $24.08 and $37.52 over the past year.
• ING’s latest quarterly earnings missed estimates, with earnings per share of $0.74 versus the $0.79 consensus, while analysts maintain a “Moderate Buy” consensus and a $34.50 price target.

Transmarket Holdings LP cut its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 85.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,779 shares of the financial services provider's stock after selling 196,732 shares during the quarter. ING Group makes up about 0.7% of Transmarket Holdings LP's investment portfolio, making the stock its 28th largest position. Transmarket Holdings LP's holdings in ING Group were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ING. QRG Capital Management Inc. lifted its position in ING Group by 91.0% in the 1st quarter. QRG Capital Management Inc. now owns 341,729 shares of the financial services provider's stock worth $8,902,000 after buying an additional 162,805 shares during the last quarter. Quantinno Capital Management LP grew its position in ING Group by 9.5% during the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider's stock valued at $46,986,000 after acquiring an additional 156,461 shares during the last quarter. Parr Mcknight Wealth Management Group LLC raised its stake in shares of ING Group by 954.1% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider's stock worth $2,645,000 after acquiring an additional 91,896 shares in the last quarter. Collaborative Fund Advisors LLC purchased a new position in shares of ING Group during the first quarter worth approximately $2,113,000. Finally, Elevation Point Wealth Partners LLC lifted its holdings in shares of ING Group by 179.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 112,727 shares of the financial services provider's stock worth $2,937,000 after acquiring an additional 72,363 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Price Performance

Shares of ING Group stock opened at $32.83 on Thursday. The business's 50 day simple moving average is $35.01 and its two-hundred day simple moving average is $31.25. The stock has a market capitalization of $93.88 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. ING Group, N.V. has a one year low of $24.08 and a one year high of $37.52.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.05). The company had revenue of $7.05 billion for the quarter, compared to analysts' expectations of $7.06 billion. ING Group had a net margin of 28.15% and a return on equity of 12.59%. Sell-side analysts expect that ING Group, N.V. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ING has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ING Group in a research note on Tuesday, August 25th. Weiss Ratings upgraded shares of ING Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Jefferies Financial Group reissued a "neutral" rating on shares of ING Group in a research note on Thursday, September 17th. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. restated a "buy" rating on shares of ING Group in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

ING Group Profile

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company's products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.

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