Advisors Preferred LLC Buys New Position in ING Group, N.V. $ING

Advisors Preferred LLC bought a new position in ING Group, N.V. (NYSE:ING) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 24,993 shares of the financial services provider’s stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 593,424 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ING Group by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after acquiring an additional 191,101 shares in the last quarter. Northern Trust Corp increased its stake in shares of ING Group by 1.7% in the 3rd quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock worth $116,223,000 after acquiring an additional 73,959 shares in the last quarter. Wells Fargo & Company MN lifted its position in ING Group by 61.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock valued at $75,616,000 after acquiring an additional 1,032,177 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in ING Group by 0.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 1,784,650 shares of the financial services provider’s stock valued at $49,970,000 after acquiring an additional 6,100 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Group Price Performance

Shares of NYSE ING opened at $32.77 on Wednesday. ING Group, N.V. has a twelve month low of $22.40 and a twelve month high of $33.13. The firm has a market cap of $95.36 billion, a P/E ratio of 12.95, a PEG ratio of 1.04 and a beta of 0.85. The company has a 50 day moving average of $30.83 and a 200 day moving average of $29.09. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73.

ING Group (NYSE:ING) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 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 company had revenue of $616.97 million for the quarter, compared to analysts’ expectations of $6.86 billion. As a group, research analysts expect that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ING has been the subject of several recent research reports. Zacks Research lowered shares of ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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.