Wright Investors Service Inc. Purchases 4,404 Shares of ING Groep NV (NYSE:ING)
Wright Investors Service Inc. raised its position in shares of ING Groep NV (NYSE:ING) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,857 shares of the financial services provider’s stock after purchasing an additional 4,404 shares during the quarter. Wright Investors Service Inc.’s holdings in ING Groep were worth $831,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in ING. Geode Capital Management LLC increased its stake in ING Groep by 48.9% during the fourth quarter. Geode Capital Management LLC now owns 34,137 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 11,214 shares during the period. Squarepoint Ops LLC acquired a new stake in ING Groep during the fourth quarter valued at approximately $251,000. Millennium Management LLC boosted its holdings in ING Groep by 18.8% during the fourth quarter. Millennium Management LLC now owns 51,854 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 8,206 shares in the last quarter. Highland Capital Management LLC boosted its holdings in ING Groep by 28.4% during the first quarter. Highland Capital Management LLC now owns 118,721 shares of the financial services provider’s stock valued at $1,441,000 after purchasing an additional 26,250 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its holdings in ING Groep by 20.0% during the first quarter. Eagle Global Advisors LLC now owns 521,000 shares of the financial services provider’s stock valued at $6,325,000 after purchasing an additional 86,721 shares in the last quarter. Institutional investors and hedge funds own 3.23% of the company’s stock.
A number of research firms have weighed in on ING. Barclays began coverage on ING Groep in a report on Friday, June 14th. They set an “underweight” rating and a $11.15 price objective on the stock. JPMorgan Chase & Co. raised ING Groep from a “neutral” rating to an “overweight” rating in a report on Wednesday, June 5th. Exane BNP Paribas downgraded ING Groep from an “outperform” rating to a “neutral” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded ING Groep from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BNP Paribas downgraded ING Groep from an “outperform” rating to a “neutral” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.58.
ING Groep Profile
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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