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Envestnet Asset Management Inc. Cuts Holdings in ING Group, N.V. (NYSE:ING)

ING Group logo with Finance background

Envestnet Asset Management Inc. reduced its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,860,373 shares of the financial services provider's stock after selling 159,455 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of ING Group worth $36,445,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Advisors LLC acquired a new stake in shares of ING Group in the 1st quarter valued at approximately $28,000. Redwood Investments LLC purchased a new stake in shares of ING Group during the 4th quarter worth approximately $41,000. Olde Wealth Management LLC purchased a new stake in shares of ING Group during the 1st quarter worth approximately $55,000. Hexagon Capital Partners LLC boosted its stake in shares of ING Group by 21.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after acquiring an additional 897 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of ING Group during the 1st quarter worth approximately $126,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Trading Up 0.2%

Shares of ING Group stock traded up $0.06 during trading hours on Thursday, reaching $22.73. 2,447,542 shares of the company's stock were exchanged, compared to its average volume of 2,359,101. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $23.25. The firm has a market capitalization of $79.50 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a fifty day moving average of $21.51 and a 200-day moving average of $19.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.86.

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). 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 for the quarter, compared to analysts' expectations of $5.74 billion. Sell-side analysts forecast that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on ING. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday. The Goldman Sachs Group raised ING Group from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Finally, Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ING Group has a consensus rating of "Moderate Buy".

Get Our Latest Analysis on ING

ING Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ING Group (NYSE:ING)

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