Lazard Asset Management LLC Cuts Position in ING Groep (NYSE:ING)

Lazard Asset Management LLC trimmed its holdings in shares of ING Groep (NYSE:ING) by 2.0% in the first quarter, HoldingsChannel.com reports. 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’s holdings in ING Groep were worth $80,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Financial Management Professionals Inc. increased its holdings in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of ING Groep in the fourth quarter valued at $28,000. GAMMA Investing LLC purchased a new position in shares of ING Groep during the 4th quarter valued at $54,000. NBC Securities Inc. grew its stake in shares of ING Groep by 24.5% during the 4th quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 805 shares during the period. Finally, EntryPoint Capital LLC bought a new position in ING Groep during the first quarter worth about $67,000. 4.49% of the stock is currently owned by institutional investors.

ING Groep Price Performance

NYSE ING traded up $0.22 during trading hours on Friday, hitting $18.57. The company had a trading volume of 2,439,659 shares, compared to its average volume of 1,460,545. The firm has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $16.05. ING Groep has a 52 week low of $12.44 and a 52 week high of $18.66. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 8.22 and a beta of 1.54. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

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

Analyst Upgrades and Downgrades

Separately, Barclays upgraded 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.