Ferguson Wellman Capital Management Inc. Makes New Investment in ING Group, N.V. $ING

Ferguson Wellman Capital Management Inc. bought a new position in shares of ING Group, N.V. (NYSE:ING) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 21,076 shares of the financial services provider’s stock, valued at approximately $549,000.

A number of other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in ING Group by 28.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock valued at $20,103,000 after purchasing an additional 157,111 shares in the last quarter. First Pacific Financial grew its position in shares of ING Group by 665.4% during the 4th quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock worth $1,256,000 after buying an additional 38,983 shares in the last quarter. US Bancorp DE grew its position in shares of ING Group by 12.6% during the 4th quarter. US Bancorp DE now owns 429,176 shares of the financial services provider’s stock worth $12,017,000 after buying an additional 48,174 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 worth $11,821,000 after buying an additional 369,310 shares in the last quarter. Finally, Themes Management Co LLC purchased a new position in shares of ING Group during the fourth quarter valued at $942,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on ING shares. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Zacks Research downgraded shares of ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Morgan Stanley restated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Stock Down 0.3%

ING Group stock opened at $32.30 on Tuesday. The business has a fifty day moving average of $30.74 and a two-hundred day moving average of $29.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm has a market cap of $94.00 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.04 and a beta of 0.85. ING Group, N.V. has a twelve month low of $22.40 and a twelve month high of $32.99.

ING Group (NYSE:ING) last announced its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million for the quarter, compared to analysts’ expectations of $6.86 billion. On average, analysts forecast that ING Group, N.V. will post 2.77 earnings per share for the current fiscal year.

ING Group 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.