Hotchkis & Wiley Capital Management LLC Sells 32,000 Shares of ING Groep (NYSE:ING)

Hotchkis & Wiley Capital Management LLC trimmed its stake in ING Groep (NYSE:ING) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,072 shares of the financial services provider’s stock after selling 32,000 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in ING Groep were worth $8,627,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ING. Natixis Advisors LLC increased its position in ING Groep by 71.3% during the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after buying an additional 1,376,713 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in ING Groep during the 3rd quarter valued at about $7,972,000. Fisher Asset Management LLC increased its position in ING Groep by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock valued at $1,243,072,000 after buying an additional 429,562 shares in the last quarter. Bank of New York Mellon Corp increased its position in ING Groep by 150.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after buying an additional 359,535 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in ING Groep during the 3rd quarter valued at about $5,204,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ING. Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Price Performance

NYSE:ING opened at $15.45 on Thursday. ING Groep has a one year low of $12.77 and a one year high of $18.72. 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 stock has a market cap of $54.05 billion, a PE ratio of 6.93, a P/E/G ratio of 5.87 and a beta of 1.48. The stock has a 50 day moving average price of $16.60 and a 200 day moving average price of $17.31.

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.