Advisors Asset Management Inc. Increases Stock Holdings in ING Groep (NYSE:ING)

Advisors Asset Management Inc. grew its holdings in ING Groep (NYSE:INGGet Rating) by 45.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 37,610 shares of the financial services provider’s stock after buying an additional 11,676 shares during the quarter. Advisors Asset Management Inc.’s holdings in ING Groep were worth $373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in shares of ING Groep in the 2nd quarter valued at approximately $26,000. Spire Wealth Management lifted its holdings in shares of ING Groep by 112.5% in the 2nd quarter. Spire Wealth Management now owns 3,232 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,711 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of ING Groep in the 1st quarter valued at approximately $54,000. CWM LLC lifted its holdings in shares of ING Groep by 73.7% in the 2nd quarter. CWM LLC now owns 6,226 shares of the financial services provider’s stock valued at $62,000 after buying an additional 2,641 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ING Groep by 2,450.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,525 shares of the financial services provider’s stock valued at $74,000 after buying an additional 7,230 shares during the period. 4.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ING. Morgan Stanley raised their price target on ING Groep from €14.00 ($14.43) to €16.00 ($16.49) and gave the company an “overweight” rating in a report on Friday. StockNews.com initiated coverage on ING Groep in a report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on ING Groep from €12.80 ($13.20) to €13.00 ($13.40) in a report on Wednesday, September 7th. UBS Group lifted their price objective on ING Groep from €15.00 ($15.46) to €15.80 ($16.29) in a report on Monday, November 7th. Finally, Royal Bank of Canada lifted their price objective on ING Groep from €11.75 ($12.11) to €13.00 ($13.40) and gave the stock a “sector perform” rating in a report on Monday, November 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ING Groep currently has a consensus rating of “Moderate Buy” and an average target price of $13.87.

ING Groep Stock Performance

NYSE ING opened at $11.75 on Friday. ING Groep has a fifty-two week low of $8.14 and a fifty-two week high of $15.97. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.82 and a beta of 1.56. The business has a fifty day moving average of $9.73 and a 200-day moving average of $9.74. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 1.65.

About ING Groep

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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