US Bancorp DE Raises Position in ING Group, N.V. $ING

Key Points

• US Bancorp DE raised its stake in ING Group by 12.6% in the 4th quarter, owning 429,176 shares after buying an additional 48,174 shares, valued at about $12.02 million.
• ING beat quarterly EPS estimates with $0.63 vs. a $0.60 consensus and shows strong profitability (net margin 27.68%, ROE 12.27%), while analysts' consensus rating is a "Moderate Buy" with projected FY EPS of 2.75.
• The stock opened at about $28.55, trades at a P/E of 11.29 with a market cap around $83.1 billion, and has a one‑year trading range of $20.07 to $31.17.

US Bancorp DE lifted its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 429,176 shares of the financial services provider's stock after purchasing an additional 48,174 shares during the period. US Bancorp DE's holdings in ING Group were worth $12,017,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Aprio Wealth Management LLC increased its stake in shares of ING Group by 1.6% during the 4th quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider's stock worth $651,000 after purchasing an additional 370 shares during the last quarter. Binnacle Investments Inc increased its stake in shares of ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider's stock worth $28,000 after purchasing an additional 395 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of ING Group by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider's stock worth $1,659,000 after purchasing an additional 397 shares during the last quarter. AE Wealth Management LLC boosted its holdings in ING Group by 2.5% in the 3rd quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider's stock worth $440,000 after buying an additional 410 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in ING Group by 2.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 18,961 shares of the financial services provider's stock worth $531,000 after buying an additional 476 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Stock Down 1.3%

Shares of NYSE:ING opened at $28.55 on Friday. The firm has a fifty day moving average price of $27.39 and a two-hundred day moving average price of $27.28. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. ING Group, N.V. has a one year low of $20.07 and a one year high of $31.17. The company has a market cap of $83.10 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.92 and a beta of 0.83.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $6.86 billion. Analysts anticipate that ING Group, N.V. will post 2.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of ING Group from a "hold" rating to a "buy" rating in a report on Monday, February 2nd. Jefferies Financial Group assumed coverage on shares of ING Group in a report on Tuesday, January 27th. They issued a "hold" rating for the company. Zacks Research downgraded shares of ING Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Keefe, Bruyette & Woods raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Thursday, March 26th. Finally, Wall Street Zen downgraded shares of ING Group from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

About ING Group

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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