ING Groep NV (ING) Shares Bought by Gradient Investments LLC
Gradient Investments LLC raised its holdings in ING Groep NV (NYSE:ING) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,612 shares of the financial services provider’s stock after buying an additional 24,832 shares during the period. Gradient Investments LLC’s holdings in ING Groep were worth $2,070,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its stake in ING Groep by 7.6% in the second quarter. Northern Trust Corp now owns 4,765,105 shares of the financial services provider’s stock valued at $68,237,000 after buying an additional 336,983 shares during the period. HRT Financial LLC bought a new stake in ING Groep in the second quarter valued at approximately $321,000. Mainstay Capital Management LLC ADV raised its stake in ING Groep by 579.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 833,372 shares of the financial services provider’s stock valued at $55,000,000 after buying an additional 710,699 shares during the period. Advisors Asset Management Inc. raised its stake in ING Groep by 312.0% in the second quarter. Advisors Asset Management Inc. now owns 51,262 shares of the financial services provider’s stock valued at $734,000 after buying an additional 38,820 shares during the period. Finally, HPM Partners LLC bought a new stake in ING Groep in the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 3.53% of the company’s stock.
ING has been the topic of several research analyst reports. Zacks Investment Research upgraded ING Groep from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. JPMorgan Chase & Co. lowered ING Groep from an “overweight” rating to a “neutral” rating in a research note on Monday, September 3rd. Finally, ValuEngine lowered ING Groep from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.00.
ING Groep (NYSE:ING) last announced its earnings results on Thursday, August 2nd. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.06 billion. ING Groep had a return on equity of 10.28% and a net margin of 28.47%. Equities research analysts predict that ING Groep NV will post 1.58 earnings per share for the current year.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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