Bank of America Corp DE Acquires 410,416 Shares of ING Group, N.V. (ING)

Bank of America Corp DE boosted its stake in shares of ING Group, N.V. (NYSE:ING) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,039,257 shares of the financial services provider’s stock after buying an additional 410,416 shares during the period. Bank of America Corp DE’s holdings in ING Group, N.V. were worth $121,313,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in ING. NEXT Financial Group Inc increased its stake in shares of ING Group, N.V. by 179.1% in the first quarter. NEXT Financial Group Inc now owns 8,618 shares of the financial services provider’s stock valued at $140,000 after buying an additional 5,530 shares during the last quarter. Assetmark Inc. increased its stake in shares of ING Group, N.V. by 8.5% in the first quarter. Assetmark Inc. now owns 9,524 shares of the financial services provider’s stock valued at $144,000 after buying an additional 747 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of ING Group, N.V. during the first quarter valued at approximately $166,000. First Allied Advisory Services Inc. purchased a new stake in shares of ING Group, N.V. during the fourth quarter valued at approximately $169,000. Finally, Atlas Brown Inc. purchased a new stake in shares of ING Group, N.V. during the first quarter valued at approximately $196,000. Hedge funds and other institutional investors own 1.85% of the company’s stock.

Institutional Ownership by Quarter for ING Group, N.V. (NYSE:ING)

Shares of ING Group, N.V. (ING) traded up 0.83% during trading on Friday, hitting $16.98. 2,332,055 shares of the company’s stock were exchanged. The company has a market cap of $65.92 billion, a P/E ratio of 12.17 and a beta of 1.21. The company has a 50-day moving average of $16.88 and a 200-day moving average of $15.18. ING Group, N.V. has a 12-month low of $9.26 and a 12-month high of $17.50.

ING Group, N.V. (NYSE:ING) last issued its earnings results on Wednesday, May 10th. The financial services provider reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $4.68 billion during the quarter. ING Group, N.V. had a net margin of 25.61% and a return on equity of 10.47%. On average, equities analysts expect that ING Group, N.V. will post $0.90 earnings per share for the current fiscal year.

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Several equities analysts recently weighed in on the stock. HSBC Holdings plc cut shares of ING Group, N.V. from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Wednesday, May 31st. ValuEngine raised shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 6th. Zacks Investment Research cut shares of ING Group, N.V. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Jefferies Group LLC assumed coverage on shares of ING Group, N.V. in a research note on Wednesday, April 19th. They set a “buy” rating for the company. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of ING Group, N.V. in a research note on Tuesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.00.

ING Group, N.V. Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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