Hennion & Walsh Asset Management Inc. Grows Holdings in ING Group, N.V. $ING

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ING Group, N.V. (NYSE:ING) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,791 shares of the financial services provider’s stock after acquiring an additional 20,073 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ING Group were worth $5,732,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Amundi purchased a new stake in ING Group in the first quarter worth about $760,000. AQR Capital Management LLC grew its stake in shares of ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in ING Group by 5.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after buying an additional 1,094 shares in the last quarter. Millennium Management LLC raised its stake in ING Group by 197.6% during the first quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock valued at $32,661,000 after buying an additional 1,106,926 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in ING Group by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock worth $154,653,000 after acquiring an additional 185,506 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ING. Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Finally, Citigroup raised shares of ING Group to a “strong-buy” rating in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy”.

ING Group Stock Performance

Shares of ING stock opened at $28.94 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a 50 day moving average price of $26.51 and a 200-day moving average price of $24.84. ING Group, N.V. has a 52 week low of $15.53 and a 52 week high of $29.02. The firm has a market capitalization of $84.21 billion, a PE ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 0.82.

ING Group (NYSE:ING) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.57%. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $5.35 billion. As a group, equities research analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.