Tower Research Capital LLC TRC raised its holdings in ING Groep NV (NYSE:ING) by 636.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,845 shares of the financial services provider’s stock after buying an additional 20,605 shares during the period. Tower Research Capital LLC TRC’s holdings in ING Groep were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in shares of ING Groep in the second quarter valued at about $34,000. Carroll Financial Associates Inc. raised its holdings in shares of ING Groep by 40.4% in the second quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,088 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of ING Groep in the second quarter valued at about $43,000. Zions Bancorporation N.A. purchased a new stake in shares of ING Groep in the first quarter valued at about $44,000. Finally, Avestar Capital LLC raised its holdings in shares of ING Groep by 1,957.1% in the first quarter. Avestar Capital LLC now owns 4,176 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 3,973 shares during the last quarter. 3.22% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ING traded up $0.11 during trading hours on Friday, reaching $10.69. 2,983,696 shares of the company were exchanged, compared to its average volume of 3,080,993. ING Groep NV has a 1 year low of $9.22 and a 1 year high of $13.77. The business’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $11.40. The company has a quick ratio of 1.13, a current ratio of 0.96 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $41.65 billion, a P/E ratio of 6.52, a P/E/G ratio of 3.70 and a beta of 1.31.
ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter. ING Groep had a net margin of 24.99% and a return on equity of 8.83%. The business had revenue of $5.24 billion during the quarter. As a group, sell-side analysts anticipate that ING Groep NV will post 1.45 earnings per share for the current year.
ING has been the subject of several analyst reports. ValuEngine downgraded shares of ING Groep from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded shares of ING Groep from a “hold” rating to a “sell” rating in a report on Tuesday. Barclays initiated coverage on shares of ING Groep in a report on Friday, June 14th. They issued an “underweight” rating and a $11.15 target price for the company. Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upgraded shares of ING Groep from a “neutral” rating to an “overweight” rating in a report on Wednesday, June 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.58.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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