Arrowstreet Capital Limited Partnership Has $101.74 Million Stock Position in ING Group, N.V. $ING

Arrowstreet Capital Limited Partnership reduced its stake in ING Group, N.V. (NYSE:ING) by 42.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,905,660 shares of the financial services provider’s stock after selling 2,909,523 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.13% of ING Group worth $101,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. MidFirst Bank bought a new stake in ING Group in the 4th quarter valued at $25,000. YANKCOM Partnership increased its position in ING Group by 197.2% during the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after buying an additional 629 shares during the period. Evergreen Advisors LLC acquired a new stake in shares of ING Group during the first quarter worth $28,000. Binnacle Investments Inc boosted its position in shares of ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 395 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in shares of ING Group by 359.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 871 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ING shares. Zacks Research lowered shares of ING Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

ING Group Stock Performance

Shares of NYSE:ING opened at $32.84 on Friday. ING Group, N.V. has a 1 year low of $22.53 and a 1 year high of $33.46. The stock has a market capitalization of $93.93 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.82 and a beta of 0.85. 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’s 50 day simple moving average is $31.29 and its 200 day simple moving average is $29.34.

ING Group (NYSE:ING) last released its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $616.97 million during the quarter, compared to analysts’ expectations of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, research analysts predict that ING Group, N.V. will post 2.87 EPS for the current fiscal year.

ING Group 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.