Assetmark Inc. Cuts Stake in ING Group, N.V. $ING

Assetmark Inc. lessened its stake in shares of ING Group, N.V. (NYSE:ING) by 38.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,820 shares of the financial services provider’s stock after selling 25,039 shares during the period. Assetmark Inc.’s holdings in ING Group were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi acquired a new stake in ING Group in the 1st quarter worth about $760,000. AQR Capital Management LLC raised its holdings in shares of ING Group by 27.0% during the first quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock valued at $1,709,000 after acquiring an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of ING Group by 5.4% during the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 1,094 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of ING Group by 19.5% in the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of ING Group by 28.9% in the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock valued at $1,040,000 after acquiring an additional 10,650 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ING. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. Zacks Research lowered ING Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

NYSE ING opened at $32.84 on Friday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $31.29 and its two-hundred day moving average is $29.34. The firm has a market capitalization of $93.93 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 0.82 and a beta of 0.85. ING Group, N.V. has a fifty-two week low of $22.53 and a fifty-two week high of $33.46.

ING Group (NYSE:ING) last issued its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million during the quarter, compared to the consensus estimate of $6.86 billion. On average, research analysts anticipate that ING Group, N.V. will post 2.87 earnings per share for the current year.

ING Group Company 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.