ING Group, N.V. $ING Position Reduced by Optas LLC

Optas LLC trimmed its position in ING Group, N.V. (NYSE:ING) by 53.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,052 shares of the financial services provider’s stock after selling 16,311 shares during the period. Optas LLC’s holdings in ING Group were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of ING Group by 61.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after buying an additional 1,032,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 891,652 shares during the period. Bank of America Corp DE boosted its stake in ING Group by 7.3% during 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 buying an additional 593,424 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ING Group by 885.4% during 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 buying an additional 369,310 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in ING Group by 22.2% during the third quarter. American Century Companies Inc. now owns 1,721,021 shares of the financial services provider’s stock worth $44,884,000 after acquiring an additional 312,720 shares during the period. 4.49% of the stock is owned by institutional investors.

ING Group Stock Performance

ING opened at $32.09 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm has a market cap of $93.41 billion, a PE ratio of 12.69, a P/E/G ratio of 1.03 and a beta of 0.85. The business has a fifty day simple moving average of $30.22 and a 200-day simple moving average of $28.86. ING Group, N.V. has a fifty-two week low of $22.28 and a fifty-two week high of $32.40.

ING Group (NYSE:ING) last announced its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. As a group, equities analysts predict that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ING has been the topic of several research reports. Zacks Research cut shares of ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen cut shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued 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 Company 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.