Mitsubishi UFJ Asset Management Co. Ltd. Lowers Holdings in ING Group, N.V. $ING

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in shares of ING Group, N.V. (NYSE:ING) by 31.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,099 shares of the financial services provider’s stock after selling 3,737 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ING Group were worth $177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FORA Capital LLC bought a new position in shares of ING Group during the 1st quarter valued at approximately $302,000. PNC Financial Services Group Inc. lifted its holdings in ING Group by 14.7% during the first quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider’s stock valued at $2,038,000 after purchasing an additional 13,304 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of ING Group by 60.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 529,731 shares of the financial services provider’s stock worth $10,377,000 after purchasing an additional 198,549 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ING Group by 21.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 285,853 shares of the financial services provider’s stock worth $5,600,000 after purchasing an additional 51,324 shares during the period. Finally, Northern Trust Corp increased its stake in shares of ING Group by 4.4% in the first quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock worth $85,078,000 after purchasing an additional 181,800 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Stock Performance

NYSE ING opened at $25.88 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $26.59. The business has a 50 day simple moving average of $25.09 and a two-hundred day simple moving average of $23.31. The stock has a market capitalization of $81.44 billion, a PE ratio of 11.66, a P/E/G ratio of 1.84 and a beta of 1.05.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ING. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

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.