Afam Capital Inc. Sells 6,508 Shares of ING Groep NV (ING)

Afam Capital Inc. lessened its stake in ING Groep NV (NYSE:ING) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,192 shares of the financial services provider’s stock after selling 6,508 shares during the period. Afam Capital Inc.’s holdings in ING Groep were worth $6,929,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ING. Wedbush Securities Inc. raised its stake in ING Groep by 0.7% in the 2nd quarter. Wedbush Securities Inc. now owns 17,586 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 117 shares during the last quarter. ETRADE Capital Management LLC raised its stake in ING Groep by 1.0% in the 2nd quarter. ETRADE Capital Management LLC now owns 19,279 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 198 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in ING Groep 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 buying an additional 389 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in ING Groep by 1.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 46,656 shares of the financial services provider’s stock valued at $811,000 after buying an additional 500 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of ING Groep by 3.0% during the 2nd quarter. Financial Counselors Inc. now owns 22,396 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 642 shares during the period. Institutional investors and hedge funds own 2.97% of the company’s stock.

A number of equities research analysts have issued reports on ING shares. Deutsche Bank reaffirmed a “buy” rating on shares of ING Groep in a research report on Thursday, October 12th. Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 6th. UBS reissued a “buy” rating on shares of ING Groep in a research report on Tuesday, September 5th. Zacks Investment Research raised ING Groep from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, December 5th. Finally, ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.50.

Shares of ING Groep NV (NYSE:ING) traded down $0.04 during mid-day trading on Tuesday, hitting $18.51. The company’s stock had a trading volume of 7,822,300 shares, compared to its average volume of 3,461,851. ING Groep NV has a one year low of $13.63 and a one year high of $19.01. The stock has a market cap of $71,935.04, a P/E ratio of 12.37, a P/E/G ratio of 2.34 and a beta of 1.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.05.

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About ING Groep

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.

Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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