ING Group, N.V. $ING Stock Acquired by Ethic Inc.

Key Points

• Ethic Inc. increased its ING Group stake by 69.2% in the third quarter, buying 122,387 shares to reach 299,276 shares valued at about $10.6 million.
• Analysts have a “Moderate Buy” consensus on ING, with one Strong Buy, nine Buy and four Hold ratings; the average price target is $34.50.

Ethic Inc. boosted its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 69.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,276 shares of the financial services provider's stock after purchasing an additional 122,387 shares during the quarter. Ethic Inc.'s holdings in ING Group were worth $10,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. West Financial Advisors LLC purchased a new position in ING Group during the 3rd quarter worth $26,000. Financial Network Wealth Advisors LLC increased its stake in ING Group by 62.1% in the third quarter. Financial Network Wealth Advisors LLC now owns 963 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 369 shares during the period. Evergreen Advisors LLC acquired a new position in ING Group in the first quarter valued at $28,000. Root Financial Partners LLC purchased a new stake in shares of ING Group in the third quarter valued at about $46,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of ING Group by 25.5% in the third quarter. SBI Securities Co. Ltd. now owns 1,809 shares of the financial services provider's stock valued at $64,000 after buying an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ING. Jefferies Financial Group reiterated a "neutral" rating on shares of ING Group in a research note on Thursday, September 17th. JPMorgan Chase & Co. reissued a "buy" rating on shares of ING Group in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ING Group in a research report on Tuesday, August 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ING Group in a research note on Friday, August 7th. Finally, UBS Group reaffirmed a "buy" rating on shares of ING Group in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.50.

ING Group Price Performance

NYSE:ING opened at $31.86 on Monday. The firm's fifty day moving average price is $34.57 and its 200 day moving average price is $31.36. ING Group, N.V. has a 1-year low of $24.35 and a 1-year high of $37.52. The firm has a market cap of $91.11 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.

ING Group Company Profile

ING Group, formally ING Groep N.V., is a Netherlands-based financial institution focused primarily on banking. It serves individuals, businesses and other organizations through digital and branch-based banking services.

Its products and services include current and savings accounts, payments, mortgages, consumer loans, business lending, cash management and trade finance. ING also provides corporate and investment banking services, including financing and financial-markets solutions.

Headquartered in Amsterdam, ING serves customers across Europe and has wholesale banking operations in markets around the world.

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