Advisors Asset Management Inc. boosted its holdings in shares of ING Groep NV (NYSE:ING) by 312.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,262 shares of the financial services provider’s stock after purchasing an additional 38,820 shares during the period. Advisors Asset Management Inc.’s holdings in ING Groep were worth $734,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of ING. FCA Corp TX purchased a new position in ING Groep during the 2nd quarter worth $143,000. Quantum Capital Management purchased a new position in ING Groep during the 2nd quarter worth $166,000. HPM Partners LLC purchased a new position in ING Groep during the 2nd quarter worth $208,000. Advisor Partners LLC grew its position in ING Groep by 36.0% during the 2nd quarter. Advisor Partners LLC now owns 15,656 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 4,145 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new position in ING Groep during the 2nd quarter worth $244,000. 3.52% of the stock is currently owned by institutional investors.
Several research firms have recently commented on ING. ValuEngine upgraded shares of ING Groep from a “strong sell” rating to a “sell” rating in a research note on Friday. Morgan Stanley upgraded shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research note on Friday. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of ING Groep from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, JPMorgan Chase & Co. cut shares of ING Groep from an “overweight” rating to a “neutral” rating in a research note on Monday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.00.
ING stock opened at $12.83 on Tuesday. ING Groep NV has a one year low of $11.47 and a one year high of $20.58. The firm has a market capitalization of $50.13 billion, a PE ratio of 8.91 and a beta of 1.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29.
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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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