Wealthstar Advisors LLC Acquires 36,807 Shares of ING Group, N.V. (NYSE:ING)

Wealthstar Advisors LLC boosted its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 152.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,010 shares of the financial services provider's stock after purchasing an additional 36,807 shares during the period. Wealthstar Advisors LLC's holdings in ING Group were worth $1,195,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ING. Allspring Global Investments Holdings LLC lifted its position in shares of ING Group by 68.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock worth $931,000 after purchasing an additional 19,332 shares during the period. PDS Planning Inc boosted its holdings in ING Group by 6.7% during the first quarter. PDS Planning Inc now owns 15,435 shares of the financial services provider's stock worth $302,000 after buying an additional 963 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in ING Group by 38.1% during the first quarter. Sequoia Financial Advisors LLC now owns 55,864 shares of the financial services provider's stock valued at $1,094,000 after purchasing an additional 15,402 shares in the last quarter. Bessemer Group Inc. lifted its holdings in ING Group by 19.8% during the first quarter. Bessemer Group Inc. now owns 211,641 shares of the financial services provider's stock valued at $4,145,000 after purchasing an additional 34,972 shares in the last quarter. Finally, Legacy Advisors LLC purchased a new position in shares of ING Group in the first quarter worth about $28,000. 4.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Cfra Research upgraded 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 upgraded shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

ING Group Price Performance

Shares of NYSE ING opened at $22.00 on Friday. The stock has a market cap of $76.94 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.09 and a beta of 1.13. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $22.07. The company's 50-day moving average price is $20.71 and its 200 day moving average price is $18.56. 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 (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $5.74 billion. ING Group had a net margin of 27.70% and a return on equity of 11.68%. As a group, research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Group, N.V. (NYSE:ING - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.