Allspring Global Investments Holdings LLC Buys 19,332 Shares of ING Group, N.V. (NYSE:ING)

Allspring Global Investments Holdings LLC raised its stake in ING Group, N.V. (NYSE:ING - Free Report) by 68.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,475 shares of the financial services provider's stock after acquiring an additional 19,332 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in ING Group were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ING. Northern Trust Corp lifted its holdings in shares of ING Group by 48.2% in the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock worth $65,205,000 after acquiring an additional 1,353,054 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of ING Group in the fourth quarter valued at approximately $14,375,000. Guardian Partners Inc. acquired a new position in shares of ING Group in the fourth quarter valued at approximately $11,730,000. Millennium Management LLC increased its stake in shares of ING Group by 671.8% in the fourth quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider's stock valued at $8,780,000 after buying an additional 487,716 shares during the period. Finally, Causeway Capital Management LLC increased its stake in shares of ING Group by 38.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,491,567 shares of the financial services provider's stock valued at $23,373,000 after buying an additional 416,762 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Group Trading Down 1.0%

NYSE:ING traded down $0.24 on Friday, reaching $22.75. 2,623,746 shares of the stock traded hands, compared to its average volume of 2,339,084. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $23.46. The company's 50 day moving average is $21.28 and its 200-day moving average is $18.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $79.58 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

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 research report on Tuesday, May 6th. The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate 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.