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

Allspring Global Investments Holdings LLC raised its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 68.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,475 shares of the financial services provider's stock after acquiring an additional 19,332 shares during the period. Allspring Global Investments Holdings LLC's holdings in ING Group were worth $931,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ING. Legacy Advisors LLC bought a new stake in shares of ING Group in the first quarter valued at approximately $28,000. Redwood Investments LLC bought a new stake in shares of ING Group in the fourth quarter valued at approximately $41,000. Sage Mountain Advisors LLC bought a new stake in shares of ING Group in the fourth quarter valued at approximately $157,000. Keel Point LLC bought a new stake in shares of ING Group in the fourth quarter valued at approximately $157,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of ING Group in the fourth quarter valued at approximately $164,000. Institutional investors own 4.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ING shares. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upgraded ING Group from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ING Group presently has a consensus rating of "Moderate Buy".

ING Group Price Performance

NYSE ING traded down $0.15 on Thursday, hitting $23.06. 796,163 shares of the company's stock were exchanged, compared to its average volume of 2,326,842. The stock has a 50-day moving average of $21.20 and a 200-day moving average of $18.93. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.86. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $23.47. The stock has a market cap of $80.65 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 2.15 and a beta of 1.11.

ING Group (NYSE:ING - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Group had a return on equity of 11.68% and a net margin of 27.70%. The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $5.74 billion. 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.