Confluence Investment Management LLC Has $862,000 Stock Position in ING Groep (NYSE:ING)

Confluence Investment Management LLC cut its holdings in shares of ING Groep (NYSE:ING) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,448 shares of the financial services provider’s stock after selling 2,287 shares during the quarter. Confluence Investment Management LLC’s holdings in ING Groep were worth $862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of ING Groep during the third quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in ING Groep in the 2nd quarter worth approximately $31,000. Rothschild Investment LLC acquired a new stake in shares of ING Groep during the 2nd quarter valued at $31,000. Mather Group LLC. grew its holdings in shares of ING Groep by 57.3% during the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 782 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of ING Groep in the second quarter worth $38,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Trading Down 0.9 %

ING Groep stock opened at $16.02 on Friday. ING Groep has a one year low of $12.77 and a one year high of $18.72. The company’s fifty day moving average price is $17.54 and its two-hundred day moving average price is $17.48. The company has a market capitalization of $56.02 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 6.34 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.12.

Wall Street Analysts Forecast Growth

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

About ING Groep

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.