QRG Capital Management Inc. Purchases 162,805 Shares of ING Group, N.V. $ING

QRG Capital Management Inc. lifted its position in ING Group, N.V. (NYSE:ING) by 91.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,729 shares of the financial services provider’s stock after purchasing an additional 162,805 shares during the quarter. QRG Capital Management Inc.’s holdings in ING Group were worth $8,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidFirst Bank acquired a new stake in ING Group during the fourth quarter worth $25,000. YANKCOM Partnership raised its stake in shares of ING Group by 197.2% in the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after buying an additional 629 shares in the last quarter. Binnacle Investments Inc lifted its holdings in shares of ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 395 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of ING Group by 359.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 871 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in shares of ING Group by 129.1% during the 4th quarter. Sound Income Strategies LLC now owns 1,283 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 723 shares during the period. 4.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Zacks Research lowered ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

ING Group Stock Down 0.0%

Shares of NYSE:ING opened at $32.09 on Friday. ING Group, N.V. has a 52 week low of $22.28 and a 52 week high of $32.40. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. The company’s fifty day moving average is $30.22 and its 200-day moving average is $28.86. The company has a market capitalization of $93.41 billion, a PE ratio of 12.69, a P/E/G ratio of 1.03 and a beta of 0.85.

ING Group (NYSE:ING) last posted its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The business had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. Equities research analysts predict that ING Group, N.V. will post 2.77 earnings per share for the current fiscal year.

ING Group Company 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.