Provenance Wealth Advisors LLC Acquires 24,544 Shares of ING Group, N.V. $ING

Provenance Wealth Advisors LLC purchased a new position in ING Group, N.V. (NYSE:ING) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,544 shares of the financial services provider’s stock, valued at approximately $871,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in ING Group by 1.0% during the 1st quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after acquiring an additional 61,919 shares in the last quarter. Quantinno Capital Management LP lifted its stake in ING Group by 9.5% in the 1st quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock worth $46,986,000 after purchasing an additional 156,461 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in ING Group by 9.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 421,191 shares of the financial services provider’s stock worth $14,416,000 after purchasing an additional 35,218 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of ING Group by 15.4% during the 2nd quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider’s stock worth $12,372,000 after purchasing an additional 52,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ING Group by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 313,500 shares of the financial services provider’s stock worth $8,167,000 after purchasing an additional 1,467 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ING shares. JPMorgan Chase & Co. restated a “buy” rating on shares of ING Group in a research report on Thursday, October 1st. Jefferies Financial Group reiterated a “neutral” rating on shares of ING Group in a research report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ING Group in a research note on Tuesday, August 25th. Zacks Research upgraded ING Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded ING Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, ING Group currently has an average rating of “Moderate Buy” and an average target price of $34.50.

ING Group Stock Up 6.4%

NYSE:ING opened at $32.88 on Thursday. ING Group, N.V. has a 52 week low of $24.35 and a 52 week high of $37.52. The stock’s fifty day moving average is $34.70 and its two-hundred day moving average is $31.33. The company has a market capitalization of $94.03 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.85 and a beta of 0.89.

ING Group Profile

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company’s products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.