ING Groep (NYSE:ING) Short Interest Update

ING Groep (NYSE:ING) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,070,000 shares, a decrease of 21.3% from the October 15th total of 3,900,000 shares. Based on an average daily volume of 1,670,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.1% of the shares of the stock are short sold.

ING Groep Stock Up 1.7 %

Shares of ING traded up $0.26 on Friday, reaching $15.74. The stock had a trading volume of 3,733,430 shares, compared to its average volume of 2,003,215. The firm has a market capitalization of $55.06 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 6.13 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. The company has a 50-day simple moving average of $17.32 and a 200-day simple moving average of $17.48. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72.

Institutional Trading of ING Groep

A number of institutional investors and hedge funds have recently modified their holdings of ING. Allspring Global Investments Holdings LLC increased its holdings in shares of ING Groep by 5,319.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,651 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 11,436 shares in the last quarter. Sei Investments Co. lifted its position in shares of ING Groep by 14.0% in the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after acquiring an additional 80,398 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of ING Groep by 24.5% in the first quarter. Russell Investments Group Ltd. now owns 13,787 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 2,714 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of ING Groep by 1.7% in the first quarter. Avantax Advisory Services Inc. now owns 48,854 shares of the financial services provider’s stock valued at $806,000 after acquiring an additional 796 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in shares of ING Groep in the first quarter worth about $294,000. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.