Bridgewater Advisors Inc. Buys Shares of 9,513 ING Group, N.V. $ING

Bridgewater Advisors Inc. bought a new stake in ING Group, N.V. (NYSE:ING) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,513 shares of the financial services provider’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC lifted its stake in ING Group by 14.3% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 500 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of ING Group by 4.4% in the 2nd quarter. Drive Wealth Management LLC now owns 12,117 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 508 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of ING Group by 4.4% in the first quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 530 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of ING Group by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,309 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 532 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its holdings in shares of ING Group by 17.9% during the second quarter. Whipplewood Advisors LLC now owns 3,558 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ING. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings upgraded ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

ING Group Stock Down 0.4%

ING Group stock opened at $25.18 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $26.27. The firm’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $22.96. The company has a market capitalization of $79.24 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.82 and a beta of 1.05.

ING Group (NYSE:ING) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.57%. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.35 billion. Sell-side analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

About ING Group

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.