Allspring Global Investments Holdings LLC Raises Position in ING Group, N.V. (NYSE:ING)

Allspring Global Investments Holdings LLC lifted its stake in ING Group, N.V. (NYSE:ING - Free Report) by 68.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,475 shares of the financial services provider's stock after buying 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ING. PDS Planning Inc raised its stake in ING Group by 6.7% during the 1st quarter. PDS Planning Inc now owns 15,435 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 963 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of ING Group by 38.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 55,864 shares of the financial services provider's stock worth $1,094,000 after purchasing an additional 15,402 shares during the period. Bessemer Group Inc. boosted its holdings in shares of ING Group by 19.8% in the 1st quarter. Bessemer Group Inc. now owns 211,641 shares of the financial services provider's stock worth $4,145,000 after purchasing an additional 34,972 shares during the period. Legacy Advisors LLC purchased a new position in shares of ING Group in the 1st quarter worth approximately $28,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in ING Group by 10.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 101,392 shares of the financial services provider's stock valued at $1,986,000 after acquiring an additional 9,347 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

Shares of NYSE ING traded up $0.57 during mid-day trading on Wednesday, hitting $23.23. The stock had a trading volume of 2,525,633 shares, compared to its average volume of 2,328,281. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day moving average of $21.13 and a two-hundred day moving average of $18.90. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $23.25. The firm has a market cap of $81.26 billion, a PE ratio of 11.01, a PEG ratio of 2.13 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 (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Group had a net margin of 27.70% and a return on equity of 11.68%. The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $5.74 billion. Research analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ING. The Goldman Sachs Group raised ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned 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 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.