ING Group, N.V. $ING Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its stake in shares of ING Group, N.V. (NYSE:ING) by 179.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,727 shares of the financial services provider’s stock after buying an additional 72,363 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in ING Group were worth $2,937,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in 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 buying an additional 1,032,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of ING Group by 4,512.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider’s stock worth $25,520,000 after acquiring an additional 891,652 shares during the last quarter. Bank of America Corp DE grew its position in shares of 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 worth $191,681,000 after acquiring an additional 593,424 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ING Group by 885.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock worth $11,821,000 after acquiring an additional 369,310 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of ING Group by 22.2% in the 3rd 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 and hedge funds.

ING Group Stock Performance

ING stock opened at $32.09 on Friday. The company has a market capitalization of $93.41 billion, a P/E ratio of 12.69, a PEG ratio of 1.03 and a beta of 0.85. The company has a 50-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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73.

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

Analyst Ratings Changes

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