Lazard Asset Management LLC Reduces Stake in ING Groep (NYSE:ING)

Lazard Asset Management LLC lessened its holdings in ING Groep (NYSE:ING) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,892,252 shares of the financial services provider’s stock after selling 99,814 shares during the period. Lazard Asset Management LLC owned approximately 0.14% of ING Groep worth $80,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Fisher Asset Management LLC lifted its stake in shares of ING Groep by 8.7% in 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 purchasing an additional 5,094,340 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 worth $128,693,000 after acquiring an additional 622,037 shares in the last quarter. Natixis Advisors L.P. lifted its stake 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 worth $27,074,000 after acquiring an additional 774,781 shares in the last quarter. Wells Fargo & Company MN lifted its stake 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 worth $20,021,000 after acquiring an additional 655,011 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake 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 worth $13,429,000 after acquiring an additional 860,527 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Up 1.2 %

ING stock traded up $0.22 during mid-day trading on Friday, reaching $18.57. The company had a trading volume of 2,439,659 shares, compared to its average volume of 1,460,545. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $64.96 billion, a price-to-earnings ratio of 8.22 and a beta of 1.54. The firm has a fifty day simple moving average of $17.67 and a 200 day simple moving average of $16.05. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $6.06 billion for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. Analysts forecast that ING Groep will post 2.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.