LFG Wealth Partners LLC Takes Position in ING Group, N.V. $ING

LFG Wealth Partners LLC acquired a new stake in ING Group, N.V. (NYSE:ING) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 54,631 shares of the financial services provider’s stock, valued at approximately $1,530,000.

Several other large investors have also modified their holdings of ING. Citigroup Inc. boosted its holdings in shares of ING Group by 249.9% in the third quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after acquiring an additional 1,462,527 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of ING Group by 61.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock valued at $75,616,000 after acquiring an additional 1,032,177 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ING Group by 4,512.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider’s stock valued at $25,520,000 after acquiring an additional 891,652 shares during the period. Bank of America Corp DE boosted its holdings in shares of ING Group by 7.3% in the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after acquiring an additional 593,424 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of ING Group by 885.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock valued at $11,821,000 after acquiring an additional 369,310 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Price Performance

Shares of NYSE ING opened at $30.39 on Tuesday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $29.37 and a 200 day moving average price of $28.39. ING Group, N.V. has a 1-year low of $20.39 and a 1-year high of $31.40. The company has a market cap of $88.44 billion, a PE ratio of 12.01, a P/E/G ratio of 0.97 and a beta of 0.84.

ING Group (NYSE:ING) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The firm had revenue of $616.97 million during the quarter, compared to the consensus estimate of $6.86 billion. Sell-side analysts forecast that ING Group, N.V. will post 2.77 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on ING. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wall Street Zen downgraded ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, ING Group currently has an average rating of “Moderate Buy”.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.