Citigroup Inc. Lowers Stake in ING Groep (NYSE:ING)

Citigroup Inc. lessened its holdings in ING Groep (NYSE:ING) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,654 shares of the financial services provider’s stock after selling 4,205 shares during the period. Citigroup Inc.’s holdings in ING Groep were worth $13,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in ING Groep in the 3rd quarter valued at about $7,972,000. Bank of New York Mellon Corp boosted its holdings in ING Groep by 150.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock worth $10,267,000 after buying an additional 359,535 shares during the last quarter. Benson Investment Management Company Inc. purchased a new stake in ING Groep during the 3rd quarter worth approximately $5,204,000. Finally, Acadian Asset Management LLC acquired a new position in shares of ING Groep during the second quarter valued at approximately $4,626,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Performance

Shares of ING Groep stock opened at $15.27 on Friday. The business’s 50 day moving average price is $16.84 and its 200 day moving average price is $17.38. The company has a market cap of $53.42 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 5.97 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a one year low of $12.77 and a one year high of $18.72.

Analyst Ratings Changes

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

ING Groep 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.