Assetmark Inc. Lowers Holdings in ING Group, N.V. $ING

Assetmark Inc. trimmed its stake in shares of ING Group, N.V. (NYSE:ING) by 38.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Several other institutional investors also recently bought and sold shares of ING. Gallacher Capital Management LLC lifted its holdings in ING Group by 4.8% in the first quarter. Gallacher Capital Management LLC now owns 26,640 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 1,209 shares during the period. Evergreen Advisors LLC acquired a new stake in shares of ING Group during the 1st quarter worth approximately $28,000. Advisors Preferred LLC acquired a new stake in shares of ING Group during the 1st quarter worth approximately $651,000. Checchi Capital Advisers LLC increased its holdings in shares of ING Group by 2.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 19,490 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 529 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of ING Group during the 1st quarter valued at approximately $294,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Stock Up 1.2%

ING Group stock opened at $32.84 on Friday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $93.93 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.82 and a beta of 0.85. The business has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $29.34. ING Group, N.V. has a 12 month low of $22.53 and a 12 month high of $33.46.

ING Group (NYSE:ING) last announced its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. On average, analysts anticipate that ING Group, N.V. will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.