Zions Bancorporation N.A. Increases Stock Position in ING Groep (NYSE:ING)

Zions Bancorporation N.A. grew its stake in shares of ING Groep (NYSE:ING) by 42.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,427 shares of the financial services provider’s stock after buying an additional 15,547 shares during the period. Zions Bancorporation N.A.’s holdings in ING Groep were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC raised its position in ING Groep by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock valued at $33,082,000 after purchasing an additional 18,472 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in ING Groep by 17.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after buying an additional 257,440 shares during the last quarter. American Century Companies Inc. grew its stake in shares of ING Groep by 5.7% during the second quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock worth $19,275,000 after acquiring an additional 60,908 shares during the last quarter. Raymond James & Associates increased its holdings in shares of ING Groep by 49.7% during the third quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after acquiring an additional 263,904 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in ING Groep by 14.0% in the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock worth $10,804,000 after purchasing an additional 80,398 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

NYSE:ING opened at $15.49 on Friday. The company has a 50 day moving average price of $17.41 and a 200 day moving average price of $17.48. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The stock has a market capitalization of $54.17 billion, a P/E ratio of 6.94, a PEG ratio of 5.99 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

Wall Street Analysts Forecast Growth

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

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.