Wealthstar Advisors LLC Raises Stock Position in ING Group, N.V. (NYSE:ING)

Wealthstar Advisors LLC lifted its position in ING Group, N.V. (NYSE:ING - Free Report) by 152.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,010 shares of the financial services provider's stock after acquiring 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.

A number of other institutional investors and hedge funds also recently made changes to their positions in ING. Legacy Advisors LLC purchased a new stake in ING Group in the first quarter worth about $28,000. Redwood Investments LLC bought a new stake in shares of ING Group in the 4th quarter worth approximately $41,000. IFP Advisors Inc grew its stake in shares of ING Group by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after buying an additional 621 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of ING Group in the 4th quarter worth approximately $55,000. Finally, SRS Capital Advisors Inc. increased its position in ING Group by 20.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock valued at $62,000 after buying an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Stock Up 1.5%

Shares of NYSE:ING traded up $0.34 during trading on Wednesday, reaching $22.34. 2,745,230 shares of the stock traded hands, compared to its average volume of 2,314,898. The stock has a market cap of $78.15 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. 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 stock has a 50-day moving average of $20.83 and a two-hundred day moving average of $18.65. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $22.35.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. ING Group had a net margin of 27.70% and a return on equity of 11.68%. As a group, sell-side analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ING. The Goldman Sachs Group raised ING Group from a "neutral" rating to a "buy" rating in a 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 research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.