First Trust Direct Indexing L.P. Purchases 3,209 Shares of ING Groep (NYSE:ING)

First Trust Direct Indexing L.P. lifted its position in shares of ING Groep (NYSE:ING) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,555 shares of the financial services provider’s stock after purchasing an additional 3,209 shares during the period. First Trust Direct Indexing L.P.’s holdings in ING Groep were worth $2,480,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ING. Fortitude Family Office LLC bought a new position in ING Groep during the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in shares of ING Groep during the second quarter valued at approximately $31,000. Rothschild Investment LLC purchased a new stake in ING Groep in the second quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in ING Groep in the second quarter valued at $38,000. Finally, Mather Group LLC. boosted its holdings in ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 782 shares in the last quarter. 4.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ING Groep Price Performance

ING opened at $16.79 on Thursday. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The company has a market cap of $58.72 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 6.58 and a beta of 1.52. The stock has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $17.46. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.72.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The company had revenue of $6.15 billion during the quarter. During the same quarter in the previous year, the business earned $0.65 earnings per share. Research analysts predict that ING Groep will post 2.06 earnings per share for the current fiscal year.

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.