Y Intercept Hong Kong Ltd Grows Position in ING Group, N.V. $ING

Y Intercept Hong Kong Ltd increased its stake in ING Group, N.V. (NYSE:ING) by 156.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,228 shares of the financial services provider’s stock after buying an additional 72,121 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ING Group were worth $3,080,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of ING Group by 7.3% in the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after purchasing an additional 593,424 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ING Group by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock valued at $218,535,000 after acquiring an additional 191,101 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ING Group by 1.7% during the third quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock valued at $116,223,000 after purchasing an additional 73,959 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ING Group by 61.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after purchasing an additional 1,032,177 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in ING Group by 0.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 1,784,650 shares of the financial services provider’s stock worth $49,970,000 after purchasing an additional 6,100 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ING shares. Wall Street Zen lowered shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Zacks Research cut ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Price Performance

ING traded down $0.56 during trading on Tuesday, reaching $32.40. 1,013,850 shares of the company traded hands, compared to its average volume of 3,165,748. The company has a market cap of $94.28 billion, a P/E ratio of 12.80, a PEG ratio of 1.03 and a beta of 0.85. 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 12-month low of $22.40 and a 12-month high of $32.99. The firm has a fifty day simple moving average of $30.22 and a 200 day simple moving average of $28.87.

ING Group (NYSE:ING) last released its earnings results on Friday, May 1st. The financial services provider reported $0.63 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 firm had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. On average, equities analysts forecast that ING Group, N.V. will post 2.77 EPS for the current year.

ING Group Company Profile

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.