AlphaCore Capital LLC Makes New Investment in ING Group, N.V. $ING

AlphaCore Capital LLC acquired a new stake in ING Group, N.V. (NYSE:ING) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,347 shares of the financial services provider’s stock, valued at approximately $139,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ING. MAI Capital Management boosted its position in ING Group by 114.4% during the second quarter. MAI Capital Management now owns 8,983 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,793 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ING Group by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after buying an additional 264,858 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of ING Group by 1.6% in the second quarter. TD Waterhouse Canada Inc. now owns 61,937 shares of the financial services provider’s stock valued at $1,363,000 after buying an additional 1,005 shares in the last quarter. Intrust Bank NA increased its holdings in ING Group by 3.9% during the second quarter. Intrust Bank NA now owns 85,833 shares of the financial services provider’s stock worth $1,877,000 after buying an additional 3,216 shares during the last quarter. Finally, Integrated Quantitative Investments LLC bought a new stake in ING Group during the second quarter worth $2,834,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Stock Up 2.7%

ING Group stock opened at $25.57 on Wednesday. The company’s 50-day moving average price is $25.07 and its two-hundred day moving average price is $23.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market cap of $80.46 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.77 and a beta of 1.05. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $26.59.

ING Group (NYSE:ING) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. As a group, analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Wednesday, November 19th. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About ING Group

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.