Raymond James Trust N.A. Acquires New Position in ING Groep (NYSE:ING)

Raymond James Trust N.A. acquired a new position in shares of ING Groep (NYSE:ING) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,178 shares of the financial services provider’s stock, valued at approximately $185,000.

A number of other institutional investors also recently bought and sold shares of ING. Natixis Advisors LLC increased its holdings in shares of ING Groep by 71.3% during the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after buying an additional 1,376,713 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in ING Groep in the third quarter valued at $7,972,000. Bank of New York Mellon Corp lifted its stake in shares of ING Groep by 150.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after purchasing an additional 359,535 shares during the last quarter. Benson Investment Management Company Inc. purchased a new position in shares of ING Groep during the 3rd quarter worth $5,204,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of ING Groep during the 2nd quarter worth about $4,626,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Finally, Citigroup raised ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

ING Groep Trading Up 1.1 %

NYSE ING opened at $15.27 on Friday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $53.42 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 5.97 and a beta of 1.52. The firm has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $17.38. ING Groep has a one year low of $12.77 and a one year high of $18.72.

ING Groep 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.