Advisors Asset Management Inc. Trims Stock Holdings in ING Groep (NYSE:ING)

Advisors Asset Management Inc. cut its stake in shares of ING Groep (NYSE:ING) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,641 shares of the financial services provider’s stock after selling 14,185 shares during the period. Advisors Asset Management Inc.’s holdings in ING Groep were worth $1,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ING. Fortitude Family Office LLC acquired a new stake in ING Groep in the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of ING Groep during the second quarter worth about $31,000. Rothschild Investment LLC purchased a new position in shares of ING Groep in the second quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ING Groep during the 2nd quarter worth approximately $38,000. Finally, Mather Group LLC. lifted its holdings 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 buying an additional 782 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Up 0.4 %

ING stock opened at $15.34 on Tuesday. The stock has a market cap of $53.66 billion, a P/E ratio of 6.88, a PEG ratio of 5.95 and a beta of 1.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a twelve month low of $12.77 and a twelve month high of $18.72. The company’s 50 day moving average is $17.03 and its two-hundred day moving average is $17.42.

Analysts Set New Price Targets

ING has been the subject of several research reports. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

About ING Groep

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.