Y Intercept Hong Kong Ltd Cuts Holdings in ING Groep (NYSE:ING)

Y Intercept Hong Kong Ltd reduced its holdings in ING Groep (NYSE:ING) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,298 shares of the financial services provider’s stock after selling 13,912 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in ING Groep were worth $478,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its holdings in ING Groep by 4.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 13,414 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 602 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of ING Groep by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 17,500 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 637 shares during the period. Pzena Investment Management LLC boosted its holdings in ING Groep by 1.2% during the second quarter. Pzena Investment Management LLC now owns 53,810 shares of the financial services provider’s stock worth $922,000 after buying an additional 640 shares in the last quarter. Valeo Financial Advisors LLC grew its position in ING Groep by 6.5% during the third quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider’s stock worth $204,000 after buying an additional 684 shares during the period. Finally, Wedmont Private Capital increased its holdings in ING Groep by 6.6% in the third quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider’s stock valued at $195,000 after buying an additional 688 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ING has been the topic of several research analyst reports. Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Citigroup upgraded ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Barclays lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd.

ING Groep Trading Up 1.6 %

Shares of ING opened at $15.53 on Monday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $16.30 and a 200-day simple moving average of $17.21. The stock has a market cap of $54.33 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 6.07 and a beta of 1.48.

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.