Cetera Trust Company N.A Cuts Position in ING Group, N.V. $ING

Cetera Trust Company N.A reduced its stake in shares of ING Group, N.V. (NYSE:ING) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,430 shares of the financial services provider’s stock after selling 2,475 shares during the quarter. Cetera Trust Company N.A’s holdings in ING Group were worth $381,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in shares of ING Group by 2.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock valued at $154,653,000 after buying an additional 185,506 shares during the period. Northern Trust Corp raised its holdings in shares of ING Group by 4.4% during the 1st quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock valued at $85,078,000 after buying an additional 181,800 shares during the period. Natixis Advisors LLC raised its holdings in shares of ING Group by 25.7% during the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock valued at $83,274,000 after buying an additional 869,281 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of ING Group by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,908,396 shares of the financial services provider’s stock valued at $41,737,000 after buying an additional 48,023 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of ING Group during the 1st quarter valued at about $36,062,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ING. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings upgraded ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

ING Group Price Performance

Shares of NYSE ING opened at $25.44 on Thursday. The firm has a market cap of $80.07 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The business has a 50 day moving average price of $24.80 and a two-hundred day moving average price of $22.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $26.27.

ING Group (NYSE:ING) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. ING Group had a return on equity of 11.57% and a net margin of 26.94%.The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $5.35 billion. Sell-side analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group 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.