Short Interest in ING Groep (NYSE:ING) Decreases By 21.3%

ING Groep (NYSE:ING) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 3,070,000 shares, a drop of 21.3% from the October 15th total of 3,900,000 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of ING Groep

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in ING Groep by 5,319.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,651 shares of the financial services provider’s stock worth $192,000 after buying an additional 11,436 shares during the period. Sei Investments Co. grew its position in shares of ING Groep by 14.0% in the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of ING Groep by 24.5% in the first quarter. Russell Investments Group Ltd. now owns 13,787 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 2,714 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of ING Groep by 1.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 48,854 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 796 shares during the period. Finally, Bleakley Financial Group LLC purchased a new stake in ING Groep during the 1st quarter worth about $294,000. 4.49% of the stock is currently owned by institutional investors.

ING Groep Stock Performance

Shares of ING traded up $0.21 on Friday, reaching $15.69. 1,194,058 shares of the company’s stock traded hands, compared to its average volume of 2,311,219. The stock’s 50 day simple moving average is $17.36 and its two-hundred day simple moving average is $17.47. The stock has a market cap of $54.89 billion, a PE ratio of 7.05, a PEG ratio of 5.99 and a beta of 1.52. ING Groep has a 52-week low of $12.77 and a 52-week high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep Company 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.