Short Interest in ING Groep (NYSE:ING) Declines By 21.3%

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

Institutional Investors Weigh In On ING Groep

Several institutional investors and hedge funds have recently made changes to their positions in ING. Sei Investments Co. grew its holdings in ING Groep by 14.0% in the first 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 during the period. Capital Research Global Investors grew its stake in shares of ING Groep by 51.2% in the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock valued at $3,360,000 after buying an additional 68,966 shares during the period. Virtu Financial LLC increased its position in ING Groep by 172.6% in the 1st quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after buying an additional 49,307 shares in the last quarter. Creative Planning boosted its holdings in ING Groep by 18.4% in the second quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock worth $3,589,000 after acquiring an additional 32,534 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in ING Groep by 30.8% in the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after acquiring an additional 62,801 shares during the period. Institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup raised ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

ING Groep Trading Up 1.4 %

Shares of NYSE:ING traded up $0.21 during trading on Friday, reaching $15.69. The stock had a trading volume of 1,194,058 shares, compared to its average volume of 2,311,219. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72. The firm’s fifty day moving average is $17.36 and its 200 day moving average is $17.47. The stock has a market cap of $54.89 billion, a price-to-earnings ratio of 7.05, a P/E/G 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.

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.