Wealthstar Advisors LLC Has $1.40 Million Stock Holdings in ING Group, N.V. $ING

Wealthstar Advisors LLC decreased its position in ING Group, N.V. (NYSE:ING) by 25.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 53,800 shares of the financial services provider’s stock after selling 18,125 shares during the quarter. Wealthstar Advisors LLC’s holdings in ING Group were worth $1,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ING. Massachusetts Financial Services Co. MA increased its holdings in shares of ING Group by 28.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock worth $20,103,000 after buying an additional 157,111 shares in the last quarter. First Pacific Financial raised its stake in shares of ING Group by 665.4% in the fourth quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock valued at $1,256,000 after acquiring an additional 38,983 shares during the last quarter. US Bancorp DE boosted its holdings in shares of ING Group by 12.6% in the 4th quarter. US Bancorp DE now owns 429,176 shares of the financial services provider’s stock worth $12,017,000 after acquiring an additional 48,174 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ING Group by 22.2% in the 3rd quarter. American Century Companies Inc. now owns 1,721,021 shares of the financial services provider’s stock worth $44,884,000 after acquiring an additional 312,720 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in ING Group by 885.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock worth $11,821,000 after acquiring an additional 369,310 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ING Group Price Performance

Shares of ING stock opened at $32.09 on Friday. ING Group, N.V. has a 1 year low of $22.28 and a 1 year high of $32.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm’s 50 day moving average is $30.22 and its 200-day moving average is $28.86. The firm has a market capitalization of $93.41 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.03 and a beta of 0.85.

ING Group (NYSE:ING) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.86 billion. Sell-side analysts forecast that ING Group, N.V. will post 2.77 EPS 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.