Earnest Partners LLC Sells 2,589 Shares of ING Groep (NYSE:ING)

Earnest Partners LLC lessened its stake in ING Groep (NYSE:ING) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,786 shares of the financial services provider’s stock after selling 2,589 shares during the quarter. Earnest Partners LLC’s holdings in ING Groep were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ING. Fisher Asset Management LLC raised its holdings in ING Groep by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 63,776,162 shares of the financial services provider’s stock valued at $957,918,000 after acquiring an additional 5,094,340 shares during the period. Goldman Sachs Group Inc. raised its holdings in ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock valued at $128,693,000 after acquiring an additional 622,037 shares during the period. Natixis Advisors L.P. raised its holdings in ING Groep by 75.4% during the 4th quarter. Natixis Advisors L.P. now owns 1,802,537 shares of the financial services provider’s stock valued at $27,074,000 after acquiring an additional 774,781 shares during the period. Wells Fargo & Company MN raised its holdings in ING Groep by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock valued at $20,021,000 after acquiring an additional 655,011 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in ING Groep by 2,566.3% during the 4th quarter. BNP Paribas Financial Markets now owns 894,059 shares of the financial services provider’s stock valued at $13,429,000 after acquiring an additional 860,527 shares during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

Shares of ING traded up $0.02 during mid-day trading on Tuesday, reaching $18.27. 397,859 shares of the stock traded hands, compared to its average volume of 2,578,556. The firm has a fifty day moving average price of $17.68 and a 200 day moving average price of $16.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.66. The company has a market cap of $63.91 billion, a price-to-earnings ratio of 8.08 and a beta of 1.54.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The business had revenue of $6.06 billion during the quarter. As a group, equities research analysts predict that ING Groep will post 2.02 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays upgraded shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

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.