Concurrent Investment Advisors LLC Purchases New Stake in ING Group, N.V. (NYSE:ING)

Concurrent Investment Advisors LLC purchased a new stake in ING Group, N.V. (NYSE:ING - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,992 shares of the financial services provider's stock, valued at approximately $274,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of ING Group by 48.2% during the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock worth $65,205,000 after purchasing an additional 1,353,054 shares during the period. Royal Bank of Canada raised its holdings in shares of ING Group by 0.8% during the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock worth $61,844,000 after purchasing an additional 31,963 shares during the period. Natixis Advisors LLC raised its holdings in shares of ING Group by 2.3% during the fourth quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider's stock worth $52,989,000 after purchasing an additional 74,771 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of ING Group by 7.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,774,430 shares of the financial services provider's stock worth $27,806,000 after purchasing an additional 121,620 shares during the period. Finally, Causeway Capital Management LLC raised its holdings in shares of ING Group by 38.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,491,567 shares of the financial services provider's stock worth $23,373,000 after purchasing an additional 416,762 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ING shares. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ING Group currently has an average rating of "Moderate Buy".

ING Group Stock Down 1.0%

ING Group stock opened at $22.75 on Friday. The company has a 50-day simple moving average of $21.32 and a 200-day simple moving average of $19.03. The firm has a market capitalization of $79.58 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.85 and a beta of 1.11. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a one year low of $15.09 and a one year high of $23.25.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $5.74 billion. ING Group had a return on equity of 11.68% and a net margin of 27.70%. As a group, equities analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Company Profile

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.

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