Thornburg Investment Management Inc. Increases Holdings in ING Group, N.V. $ING

Thornburg Investment Management Inc. grew its holdings in ING Group, N.V. (NYSE:ING) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 632,753 shares of the financial services provider’s stock after acquiring an additional 86,364 shares during the period. Thornburg Investment Management Inc.’s holdings in ING Group were worth $17,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Bank of America Corp DE lifted its position 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of ING Group by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after buying an additional 191,101 shares in the last quarter. Northern Trust Corp lifted its position in shares of ING Group by 1.7% in the third quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock worth $116,223,000 after buying an additional 73,959 shares in the last quarter. Todd Asset Management LLC lifted its position in shares of ING Group by 1.0% in the third quarter. Todd Asset Management LLC now owns 2,795,403 shares of the financial services provider’s stock worth $72,904,000 after buying an additional 26,639 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position 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 worth $75,616,000 after buying an additional 1,032,177 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ING. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen downgraded ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

ING Group Trading Down 0.1%

Shares of ING stock opened at $30.17 on Monday. The company has a market cap of $87.82 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The stock’s 50 day simple moving average is $29.29 and its two-hundred day simple moving average is $28.35. ING Group, N.V. has a 1 year low of $20.39 and a 1 year high of $31.40. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11.

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 analysts’ consensus estimates 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 return on equity of 12.27% and a net margin of 27.68%. Research analysts predict that ING Group, N.V. will post 2.77 earnings per share for the current year.

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.