Oppenheimer Asset Management Inc. Decreases Holdings in ING Group, N.V. $ING

Oppenheimer Asset Management Inc. cut its holdings in shares of ING Group, N.V. (NYSE:ING) by 20.4% in the 4th quarter, HoldingsChannel reports. The firm owned 87,172 shares of the financial services provider’s stock after selling 22,294 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ING Group were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ING. Citigroup Inc. increased its position in shares of ING Group by 249.9% during the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after purchasing an additional 1,462,527 shares during the last quarter. ABC Arbitrage SA increased its position in shares of ING Group by 280.3% during the 3rd quarter. ABC Arbitrage SA now owns 900,936 shares of the financial services provider’s stock valued at $23,496,000 after purchasing an additional 664,063 shares during the last quarter. Bank of America Corp DE increased its position in shares of ING Group by 7.3% during the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after purchasing an additional 593,424 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ING Group by 885.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock valued at $11,821,000 after purchasing an additional 369,310 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of ING Group by 22.2% during the 3rd quarter. American Century Companies Inc. now owns 1,721,021 shares of the financial services provider’s stock valued at $44,884,000 after purchasing an additional 312,720 shares during the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ING has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Jefferies Financial Group started coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Finally, Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

Shares of ING opened at $27.81 on Tuesday. The company has a market cap of $80.92 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The stock has a 50-day moving average price of $27.39 and a 200-day moving average price of $27.30. ING Group, N.V. has a 12-month low of $20.07 and a 12-month high of $31.17.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, equities analysts forecast that ING Group, N.V. will post 2.75 earnings per share for the current fiscal year.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.