ING Group, N.V. $ING Position Trimmed by Brookstone Capital Management

Brookstone Capital Management decreased its position in ING Group, N.V. (NYSE:ING) by 73.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,904 shares of the financial services provider’s stock after selling 16,031 shares during the quarter. Brookstone Capital Management’s holdings in ING Group were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ING. Bank of America Corp DE boosted its stake in ING Group by 1.0% during the first quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock worth $168,052,000 after buying an additional 61,919 shares during the period. Parr Mcknight Wealth Management Group LLC increased its position in ING Group by 954.1% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider’s stock valued at $2,645,000 after acquiring an additional 91,896 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of ING Group by 9.1% in the third quarter. TD Waterhouse Canada Inc. now owns 421,191 shares of the financial services provider’s stock valued at $14,416,000 after acquiring an additional 35,218 shares during the period. QRG Capital Management Inc. raised its stake in shares of ING Group by 15.4% in the second quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider’s stock valued at $12,372,000 after acquiring an additional 52,524 shares during the period. Finally, Gibbs Wealth Management purchased a new stake in shares of ING Group in the first quarter valued at $817,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ING shares. Jefferies Financial Group restated a “neutral” rating on shares of ING Group in a report on Thursday, September 17th. DZ Bank reiterated a “buy” rating on shares of ING Group in a report on Tuesday, August 4th. The Goldman Sachs Group reissued a “buy” rating on shares of ING Group in a research report on Friday, August 7th. UBS Group reissued a “buy” rating on shares of ING Group in a research note on Friday, July 31st. Finally, Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

ING Group Stock Performance

NYSE ING opened at $31.45 on Friday. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.86 and a beta of 0.87. The company’s 50-day simple moving average is $34.90 and its two-hundred day simple moving average is $31.29. ING Group, N.V. has a one year low of $24.35 and a one year high of $37.52.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. ING Group had a net margin of 28.02% and a return on equity of 12.36%. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $6.99 billion. Equities analysts expect that ING Group, N.V. will post 2.76 earnings per share for the current fiscal year.

ING Group Company Profile

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company’s products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.