Iowa State Bank Lowers Stock Position in ING Groep (NYSE:ING)

Iowa State Bank decreased its position in shares of ING Groep (NYSE:ING) by 11.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 31,588 shares of the financial services provider’s stock after selling 4,000 shares during the period. Iowa State Bank’s holdings in ING Groep were worth $495,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC raised its stake in ING Groep by 71.3% in the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in ING Groep during the third quarter worth approximately $9,924,000. Mediolanum International Funds Ltd acquired a new position in shares of ING Groep during the third quarter worth about $7,972,000. Fisher Asset Management LLC boosted its holdings in ING Groep by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock worth $1,243,072,000 after acquiring an additional 429,562 shares during the period. Finally, Bank of New York Mellon Corp grew 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 purchasing an additional 359,535 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Up 1.3 %

ING traded up $0.21 during trading on Monday, reaching $15.86. 1,581,579 shares of the stock traded hands, compared to its average volume of 1,864,837. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The stock’s 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $17.01. The stock has a market cap of $55.48 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 5.97 and a beta of 1.47.

Wall Street Analyst Weigh In

ING has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

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.