Abacus Wealth Partners LLC Takes Position in ING Group, N.V. $ING

Abacus Wealth Partners LLC bought a new stake in shares of ING Group, N.V. (NYSE:ING) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 49,211 shares of the financial services provider’s stock, valued at approximately $1,378,000.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in ING Group in the 3rd quarter worth approximately $451,000. Citigroup Inc. increased its stake in ING Group by 249.9% in the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock worth $53,404,000 after acquiring an additional 1,462,527 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in ING Group by 28.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock worth $20,103,000 after acquiring an additional 157,111 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in ING Group by 4.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock worth $51,918,000 after acquiring an additional 82,340 shares during the last quarter. Finally, First Pacific Financial increased its stake in ING Group by 665.4% in the 4th quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock worth $1,256,000 after acquiring an additional 38,983 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Stock Down 2.1%

Shares of NYSE ING opened at $29.41 on Friday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $85.60 billion, a P/E ratio of 11.62, a PEG ratio of 0.95 and a beta of 0.83. ING Group, N.V. has a 1 year low of $20.39 and a 1 year high of $31.17. The firm has a 50-day simple moving average of $27.57 and a two-hundred day simple moving average of $27.63.

ING Group (NYSE:ING) last announced its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. Research analysts anticipate that ING Group, N.V. will post 2.76 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on ING. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen downgraded ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Jefferies Financial Group began coverage on ING Group in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ING Group has an average rating of “Moderate Buy”.

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.