Lazard Asset Management LLC Has $25.57 Million Stake in ING Group, N.V. $ING

Lazard Asset Management LLC reduced its holdings in shares of ING Group, N.V. (NYSE:ING) by 66.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 981,440 shares of the financial services provider’s stock after selling 1,934,387 shares during the quarter. Lazard Asset Management LLC’s holdings in ING Group were worth $25,567,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ING. Amundi bought a new stake in ING Group in the 1st quarter valued at $760,000. AQR Capital Management LLC increased its holdings in shares of ING Group by 27.0% in the first quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock valued at $1,709,000 after purchasing an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of ING Group by 5.4% in the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 1,094 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of ING Group by 19.5% in the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 2,745 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of ING Group by 28.9% in the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 10,650 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Zacks Research lowered shares of ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ING Group has a consensus rating of “Moderate Buy”.

ING Group Trading Down 0.7%

Shares of ING Group stock opened at $33.25 on Wednesday. The firm has a 50-day moving average of $31.45 and a 200-day moving average of $29.42. The stock has a market cap of $95.11 billion, a PE ratio of 13.14, a PEG ratio of 0.83 and a beta of 0.85. ING Group, N.V. has a 52-week low of $22.53 and a 52-week high of $33.60. 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 (NYSE:ING) last released its quarterly earnings results 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 net margin of 27.68% and a return on equity of 12.27%. The business had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. As a group, sell-side analysts forecast that ING Group, N.V. will post 2.87 EPS for the current 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.