Gradient Investments LLC Purchases 24,832 Shares of ING Groep NV (ING)

Gradient Investments LLC lifted its position in shares of ING Groep NV (NYSE:ING) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,612 shares of the financial services provider’s stock after buying an additional 24,832 shares during the period. Gradient Investments LLC’s holdings in ING Groep were worth $2,070,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ING. PNC Financial Services Group Inc. boosted its position in shares of ING Groep by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 80,394 shares of the financial services provider’s stock worth $1,361,000 after buying an additional 25,060 shares during the period. Sei Investments Co. boosted its position in shares of ING Groep by 30.5% during the first quarter. Sei Investments Co. now owns 254,676 shares of the financial services provider’s stock worth $4,312,000 after buying an additional 59,448 shares during the period. Stifel Financial Corp boosted its position in shares of ING Groep by 17.5% during the first quarter. Stifel Financial Corp now owns 118,820 shares of the financial services provider’s stock worth $2,025,000 after buying an additional 17,701 shares during the period. UBS Group AG boosted its position in shares of ING Groep by 102.6% during the first quarter. UBS Group AG now owns 2,454,246 shares of the financial services provider’s stock worth $41,550,000 after buying an additional 1,242,824 shares during the period. Finally, A.R.T. Advisors LLC boosted its position in shares of ING Groep by 408.8% during the first quarter. A.R.T. Advisors LLC now owns 110,400 shares of the financial services provider’s stock worth $1,869,000 after buying an additional 88,700 shares during the period. 3.53% of the stock is owned by institutional investors.

ING has been the subject of several recent research reports. Zacks Investment Research raised ING Groep from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. JPMorgan Chase & Co. cut ING Groep from an “overweight” rating to a “neutral” rating in a research report on Monday, September 3rd. Finally, ValuEngine cut ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

ING opened at $12.59 on Friday. ING Groep NV has a 52-week low of $12.36 and a 52-week high of $20.58. The stock has a market cap of $50.40 billion, a P/E ratio of 8.69, a P/E/G ratio of 1.64 and a beta of 1.27. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.12 and a current ratio of 1.12.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 2nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 10.28% and a net margin of 28.47%. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.06 billion. Equities research analysts predict that ING Groep NV will post 1.58 EPS for the current year.

ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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

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