Baird Financial Group Inc. Buys 61,557 Shares of ING Groep NV (NYSE:ING)

Baird Financial Group Inc. boosted its stake in shares of ING Groep NV (NYSE:ING) by 138.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,994 shares of the financial services provider’s stock after acquiring an additional 61,557 shares during the quarter. Baird Financial Group Inc.’s holdings in ING Groep were worth $1,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Morgan Stanley grew its stake in shares of ING Groep by 7.1% during the first quarter. Morgan Stanley now owns 19,481,236 shares of the financial services provider’s stock valued at $100,328,000 after buying an additional 1,287,887 shares during the last quarter. Royal Bank of Canada grew its stake in shares of ING Groep by 21.5% during the first quarter. Royal Bank of Canada now owns 5,501,373 shares of the financial services provider’s stock valued at $28,331,000 after buying an additional 974,363 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of ING Groep by 164.2% during the first quarter. JPMorgan Chase & Co. now owns 4,042,692 shares of the financial services provider’s stock valued at $20,819,000 after buying an additional 2,512,282 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of ING Groep by 25.5% during the first quarter. Parametric Portfolio Associates LLC now owns 3,629,639 shares of the financial services provider’s stock valued at $18,693,000 after buying an additional 737,699 shares during the last quarter. Finally, FMR LLC grew its stake in shares of ING Groep by 59.7% during the second quarter. FMR LLC now owns 2,224,458 shares of the financial services provider’s stock valued at $15,349,000 after buying an additional 831,454 shares during the last quarter. 3.73% of the stock is currently owned by institutional investors.

ING Groep stock opened at $8.32 on Wednesday. The business has a fifty day moving average of $7.92 and a two-hundred day moving average of $6.84. The company has a quick ratio of 1.13, a current ratio of 0.96 and a debt-to-equity ratio of 2.32. The firm has a market cap of $32.42 billion, a P/E ratio of 8.95, a P/E/G ratio of 2.28 and a beta of 1.64. ING Groep NV has a twelve month low of $4.52 and a twelve month high of $12.44.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The company had revenue of $5.14 billion for the quarter. ING Groep had a return on equity of 5.97% and a net margin of 17.53%. Equities analysts expect that ING Groep NV will post 0.78 earnings per share for the current year.

A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of ING Groep in a research note on Friday, August 7th. Morgan Stanley reissued a “neutral” rating on shares of ING Groep in a research note on Wednesday, May 27th. Deutsche Bank reissued a “buy” rating on shares of ING Groep in a research note on Friday, August 14th. Credit Suisse Group raised ING Groep from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 8th. Finally, ValuEngine raised ING Groep from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $7.50.

ING Groep Profile

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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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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