Envestnet Asset Management Inc. Buys 48,023 Shares of ING Group, N.V. $ING

Envestnet Asset Management Inc. raised its stake in ING Group, N.V. (NYSE:ING) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,908,396 shares of the financial services provider’s stock after buying an additional 48,023 shares during the period. Envestnet Asset Management Inc.’s holdings in ING Group were worth $41,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 912 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in ING Group during the 2nd quarter worth $37,000. Maseco LLP acquired a new position in ING Group in the 2nd quarter worth about $48,000. Olde Wealth Management LLC acquired a new position in ING Group in the 1st quarter worth about $55,000. Finally, Whipplewood Advisors LLC raised its position in ING Group by 17.9% in the second quarter. Whipplewood Advisors LLC now owns 3,558 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 539 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Stock Performance

Shares of ING stock opened at $24.91 on Friday. The stock has a market capitalization of $78.39 billion, a PE ratio of 11.22, a PEG ratio of 1.79 and a beta of 1.07. The business’s 50 day simple moving average is $24.74 and its 200 day simple moving average is $22.83. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. ING Group, N.V. has a one year low of $15.09 and a one year high of $26.27.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.62%. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.35 billion. As a group, research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Weiss Ratings upgraded shares of ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Finally, Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ING Group presently has a consensus rating of “Buy”.

ING Group Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.