Northwestern Mutual Wealth Management Co. Raises Stake in ING Group, N.V. $ING

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ING Group, N.V. (NYSE:ING) by 4,512.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 911,413 shares of the financial services provider’s stock after purchasing an additional 891,652 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ING Group were worth $25,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ING. Citigroup Inc. increased its holdings in ING Group by 249.9% during the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after acquiring an additional 1,462,527 shares in the last quarter. ABC Arbitrage SA increased its holdings in ING Group by 280.3% during the 3rd quarter. ABC Arbitrage SA now owns 900,936 shares of the financial services provider’s stock valued at $23,496,000 after acquiring an additional 664,063 shares in the last quarter. Bank of America Corp DE increased its holdings in ING Group by 7.3% during the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after acquiring an additional 593,424 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in ING Group by 885.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock valued at $11,821,000 after acquiring an additional 369,310 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in ING Group by 22.2% during the 3rd quarter. American Century Companies Inc. now owns 1,721,021 shares of the financial services provider’s stock valued at $44,884,000 after acquiring an additional 312,720 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Morgan Stanley restated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Zacks Research downgraded shares of ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. 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 assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

ING Group Price Performance

ING opened at $29.25 on Wednesday. The company’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $27.73. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. ING Group, N.V. has a 1 year low of $20.39 and a 1 year high of $31.17. The stock has a market capitalization of $85.11 billion, a PE ratio of 11.56, a P/E/G ratio of 0.95 and a beta of 0.83.

ING Group (NYSE:ING) last released its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $6.86 billion. As a group, sell-side analysts expect that ING Group, N.V. will post 2.76 EPS for the current year.

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.