King Luther Capital Management Corp Sells 2,636 Shares of ING Group, N.V. $ING

King Luther Capital Management Corp lessened its position in shares of ING Group, N.V. (NYSE:ING) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,759 shares of the financial services provider’s stock after selling 2,636 shares during the quarter. King Luther Capital Management Corp’s holdings in ING Group were worth $345,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in ING Group in the first quarter worth $36,062,000. Millennium Management LLC grew its stake in ING Group by 197.6% during the 1st quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock worth $32,661,000 after buying an additional 1,106,926 shares during the last quarter. Natixis Advisors LLC increased its position in 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 in the last quarter. National Bank of Canada FI boosted its holdings in ING Group by 1,434.0% in the first quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider’s stock worth $7,932,000 after acquiring an additional 378,693 shares in the last quarter. Finally, Curi RMB Capital LLC acquired a new stake in ING Group in the first quarter worth about $6,833,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ING has been the topic of several recent analyst reports. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Weiss Ratings upgraded shares of ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Barclays raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

ING Group Stock Down 0.1%

ING stock opened at $26.30 on Wednesday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s fifty day simple moving average is $24.97 and its 200-day simple moving average is $23.19. ING Group, N.V. has a 12 month low of $15.09 and a 12 month high of $26.41. The company has a market capitalization of $82.78 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.87 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. ING Group had a net margin of 26.94% and a return on equity of 11.57%. As a group, equities research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

About ING Group

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.