Confluence Investment Management LLC Buys 790 Shares of ING Groep (NYSE:ING)

Confluence Investment Management LLC raised its stake in ING Groep (NYSE:ING) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 48,238 shares of the financial services provider’s stock after purchasing an additional 790 shares during the quarter. Confluence Investment Management LLC’s holdings in ING Groep were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in ING Groep by 150.1% during 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 buying an additional 359,535 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ING Groep by 82.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 21,213 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 9,562 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of ING Groep during the second quarter valued at about $31,000. Commonwealth Equity Services LLC boosted its holdings in shares of ING Groep by 50.7% during the second quarter. Commonwealth Equity Services LLC now owns 22,839 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 7,684 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of ING Groep by 1.0% in the second quarter. Rhumbline Advisers now owns 86,574 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Down 1.0 %

ING stock opened at $15.51 on Friday. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The company has a market capitalization of $54.26 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 5.97 and a beta of 1.48. The business’s 50 day moving average price is $15.81 and its two-hundred day moving average price is $17.02. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

Wall Street Analyst Weigh In

Several research firms have weighed in on ING. Citigroup upgraded ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

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.