Envestnet Asset Management Inc. Has $41.74 Million Stock Position in ING Group, N.V. $ING

Envestnet Asset Management Inc. lifted its position in shares of ING Group, N.V. (NYSE:ING) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,908,396 shares of the financial services provider’s stock after purchasing an additional 48,023 shares during the period. Envestnet Asset Management Inc. owned 0.06% of ING Group worth $41,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ING. Resonant Capital Advisors LLC increased its position in ING Group by 12.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 15,851 shares of the financial services provider’s stock worth $347,000 after buying an additional 1,789 shares during the period. Whipplewood Advisors LLC grew its stake in shares of ING Group by 17.9% in the second quarter. Whipplewood Advisors LLC now owns 3,558 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 539 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of ING Group in the second quarter valued at about $219,000. Forum Financial Management LP increased its position in ING Group by 3.8% during the second quarter. Forum Financial Management LP now owns 49,057 shares of the financial services provider’s stock worth $1,073,000 after acquiring an additional 1,774 shares during the period. Finally, Ethic Inc. raised its stake in ING Group by 21.0% in the 2nd quarter. Ethic Inc. now owns 160,643 shares of the financial services provider’s stock worth $3,531,000 after purchasing an additional 27,926 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Performance

Shares of NYSE:ING opened at $24.91 on Friday. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27. The stock has a market capitalization of $78.39 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50 day simple moving average is $24.74 and its 200 day simple moving average is $22.83.

ING Group (NYSE:ING) last released its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a return on equity of 11.62% and a net margin of 26.94%.The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $5.35 billion. As a group, research analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Barclays raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.