Bank of New York Mellon Corp Sells 9,217 Shares of ING Groep NV (NYSE:ING)

Bank of New York Mellon Corp cut its holdings in ING Groep NV (NYSE:ING) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,959 shares of the financial services provider’s stock after selling 9,217 shares during the period. Bank of New York Mellon Corp’s holdings in ING Groep were worth $833,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. purchased a new position in shares of ING Groep during the second quarter valued at about $34,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in ING Groep during the second quarter worth about $43,000. Carroll Financial Associates Inc. boosted its stake in ING Groep by 40.4% during the second quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,088 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in ING Groep by 21.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,204 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 907 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in ING Groep by 35.5% during the second quarter. Lindbrook Capital LLC now owns 5,536 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 1,450 shares in the last quarter. 3.22% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on ING. UBS Group reissued a “buy” rating on shares of ING Groep in a research note on Thursday, October 3rd. ValuEngine raised shares of ING Groep from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Exane BNP Paribas lowered shares of ING Groep from an “outperform” rating to a “neutral” rating in a research note on Friday, August 2nd. Zacks Investment Research raised shares of ING Groep from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday. Finally, Goldman Sachs Group reissued a “buy” rating on shares of ING Groep in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $11.08.

Shares of NYSE ING opened at $10.80 on Friday. The firm’s 50 day moving average price is $10.12 and its 200-day moving average price is $11.19. The company has a market cap of $41.71 billion, a PE ratio of 6.59, a P/E/G ratio of 3.51 and a beta of 1.34. ING Groep NV has a 52-week low of $9.22 and a 52-week high of $13.72. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.13 and a current ratio of 0.96.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter. The firm had revenue of $5.24 billion for the quarter. ING Groep had a net margin of 24.99% and a return on equity of 8.83%. On average, analysts forecast that ING Groep NV will post 1.45 earnings per share for the current fiscal year.

About ING Groep

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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

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