Gibbs Wealth Management Purchases New Position in ING Group, N.V. $ING

Gibbs Wealth Management purchased a new stake in ING Group, N.V. (NYSE:ING) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,376 shares of the financial services provider’s stock, valued at approximately $817,000.

Several other hedge funds have also recently bought and sold shares of ING. Lido Advisors LLC boosted its holdings in shares of ING Group by 18.0% during the first quarter. Lido Advisors LLC now owns 55,885 shares of the financial services provider’s stock worth $1,456,000 after acquiring an additional 8,508 shares during the period. Cetera Investment Advisers increased its stake in ING Group by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 223,119 shares of the financial services provider’s stock worth $5,812,000 after acquiring an additional 2,866 shares during the period. NewEdge Wealth LLC increased its position in shares of ING Group by 13.6% in the first quarter. NewEdge Wealth LLC now owns 51,951 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 6,218 shares during the period. Summit Global Investments increased its holdings in ING Group by 8.0% in the 1st quarter. Summit Global Investments now owns 15,885 shares of the financial services provider’s stock valued at $414,000 after buying an additional 1,178 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in ING Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 313,500 shares of the financial services provider’s stock valued at $8,167,000 after purchasing an additional 1,467 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on ING shares. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Zacks Research downgraded ING Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

ING Group Trading Up 1.2%

NYSE:ING opened at $32.84 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm has a fifty day simple moving average of $31.29 and a two-hundred day simple moving average of $29.34. The stock has a market capitalization of $95.58 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.81 and a beta of 0.85. ING Group, N.V. has a 12 month low of $22.53 and a 12 month high of $33.46.

ING Group (NYSE:ING) last issued its earnings results on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, beating 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 business had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. Analysts expect that ING Group, N.V. will post 2.87 EPS for the current fiscal year.

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.