Oppenheimer Asset Management Inc. Sells 22,294 Shares of ING Group, N.V. $ING

Oppenheimer Asset Management Inc. trimmed its holdings in shares of ING Group, N.V. (NYSE:ING) by 20.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,172 shares of the financial services provider’s stock after selling 22,294 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ING Group were worth $2,441,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. US Bancorp DE boosted its holdings in shares of ING Group by 12.6% during the 4th quarter. US Bancorp DE now owns 429,176 shares of the financial services provider’s stock worth $12,017,000 after buying an additional 48,174 shares in the last quarter. Keybank National Association OH boosted its holdings in shares of ING Group by 23.7% during the 4th quarter. Keybank National Association OH now owns 20,082 shares of the financial services provider’s stock worth $562,000 after buying an additional 3,854 shares in the last quarter. Exencial Wealth Advisors LLC lifted its holdings in shares of ING Group by 5.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 79,810 shares of the financial services provider’s stock worth $2,235,000 after purchasing an additional 4,046 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of ING Group by 7.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 18,556 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Anchyra Partners LLC bought a new position in shares of ING Group in the 4th quarter worth $302,000. 4.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ING shares. Zacks Research cut ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wall Street Zen cut ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Jefferies Financial Group started coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

ING Group Trading Down 2.6%

NYSE ING opened at $27.81 on Tuesday. The firm has a market capitalization of $80.92 billion, a P/E ratio of 10.99, a PEG ratio of 0.92 and a beta of 0.83. The business has a fifty day simple moving average of $27.39 and a 200 day simple moving average of $27.30. ING Group, N.V. has a 12 month low of $20.07 and a 12 month high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73.

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

About ING Group

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.