Gibbs Wealth Management Takes $817,000 Position in ING Group, N.V. $ING

Key Points

• Gibbs Wealth Management initiated a new position in ING Group during the first quarter, buying 31,376 shares valued at about $817,000.
• Other institutional investors also added to or opened positions in ING, and institutional ownership now stands at 4.49% of the company’s stock.
• Analyst views are mixed but lean positive overall, with a Moderate Buy consensus; ING also beat first-quarter EPS estimates, reporting $0.63 per share versus expectations of $0.60.

Gibbs Wealth Management bought a new stake in ING Group, N.V. (NYSE:ING - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,376 shares of the financial services provider's stock, valued at approximately $817,000.

Several other institutional investors and hedge funds have also bought and sold shares of ING. Amundi acquired a new position in shares of ING Group during the 1st quarter worth approximately $760,000. AQR Capital Management LLC boosted its holdings in shares of ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider's stock valued at $1,709,000 after buying an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of ING Group by 5.4% in the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider's stock valued at $418,000 after buying an additional 1,094 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in ING Group by 19.5% during the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider's stock worth $368,000 after buying an additional 2,745 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in ING Group by 28.9% during the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider's stock worth $1,040,000 after buying an additional 10,650 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ING shares. Zacks Research cut shares of ING Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ING Group in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

ING Group Stock Performance

ING opened at $32.84 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group, N.V. has a 12-month low of $22.53 and a 12-month high of $33.46. The business has a 50 day moving average of $31.29 and a 200-day moving average of $29.34. The stock has a market cap of $95.58 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.81 and a beta of 0.85.

ING Group (NYSE:ING - Get Free Report) last posted its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. On average, equities research analysts expect that ING Group, N.V. will post 2.87 earnings per share for the current year.

ING Group Company 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.

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