ING Groep (NYSE:ING) Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its stake in shares of ING Groep (NYSE:ING) by 32.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,230 shares of the financial services provider’s stock after selling 11,062 shares during the quarter. Assetmark Inc.’s holdings in ING Groep were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in ING Groep in the 3rd quarter valued at $25,000. Summit Securities Group LLC purchased a new position in ING Groep during the second quarter worth about $31,000. Rothschild Investment LLC acquired a new stake in ING Groep in the second quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ING Groep in the 2nd quarter valued at approximately $38,000. Finally, Mather Group LLC. increased its position in ING Groep by 57.3% during the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 782 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ING shares. Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup raised shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

ING Groep Trading Up 1.7 %

Shares of ING Groep stock opened at $15.74 on Friday. The company has a 50-day moving average of $17.32 and a two-hundred day moving average of $17.47. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $55.06 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 5.99 and a beta of 1.52.

ING Groep 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.