Bridges Investment Counsel Inc. cut its position in shares of ING Group, N.V. (NYSE:ING) by 68.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,735 shares of the financial services provider’s stock after selling 398,335 shares during the period. ING Group, N.V. makes up 1.8% of Bridges Investment Counsel Inc.’s holdings, making the stock its 17th biggest holding. Bridges Investment Counsel Inc.’s holdings in ING Group, N.V. were worth $3,311,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Quadrant Capital Group LLC raised its stake in shares of ING Group, N.V. by 5.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,989 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 389 shares during the period. Krilogy Financial LLC purchased a new stake in shares of ING Group, N.V. in the 2nd quarter valued at approximately $127,000. MAI Capital Management purchased a new stake in shares of ING Group, N.V. in the 2nd quarter valued at approximately $178,000. Oppenheimer & Co. Inc. purchased a new stake in shares of ING Group, N.V. in the 1st quarter valued at approximately $166,000. Finally, Jacobi Capital Management LLC increased its stake in ING Group, N.V. by 16.4% during the 1st quarter. Jacobi Capital Management LLC now owns 11,602 shares of the financial services provider’s stock worth $173,000 after buying an additional 1,635 shares during the period. 2.93% of the stock is currently owned by institutional investors.
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Several equities research analysts recently weighed in on ING shares. BidaskClub raised shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. ValuEngine raised shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. UBS AG reaffirmed a “buy” rating on shares of ING Group, N.V. in a research note on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) upgraded shares of ING Group, N.V. from a “neutral” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of ING Group, N.V. in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.00.
Shares of ING Group, N.V. (ING) traded down 1.313% on Friday, hitting $18.415. 1,599,846 shares of the stock traded hands. The firm has a market cap of $71.52 billion, a P/E ratio of 12.044 and a beta of 1.13. The firm’s 50-day moving average is $18.32 and its 200 day moving average is $17.52. ING Group, N.V. has a 12-month low of $12.72 and a 12-month high of $19.01.
About ING Group, N.V.
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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