PNC Financial Services Group Inc. Purchases 7,226 Shares of ING Group, N.V. $ING

PNC Financial Services Group Inc. lifted its holdings in ING Group, N.V. (NYSE:ING) by 6.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,282 shares of the financial services provider’s stock after purchasing an additional 7,226 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ING Group were worth $2,434,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in ING Group during the second quarter valued at $37,000. Maseco LLP purchased a new stake in shares of ING Group during the 2nd quarter valued at about $48,000. Whipplewood Advisors LLC lifted its holdings in shares of ING Group by 17.9% in the 2nd 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 during the last quarter. MAI Capital Management lifted its holdings in shares of ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 785 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in ING Group in the second quarter worth about $85,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ING shares. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Thursday, November 13th. Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Finally, Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, ING Group has an average rating of “Buy”.

ING Group Stock Performance

Shares of ING Group stock opened at $24.72 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock’s fifty day moving average is $25.11 and its two-hundred day moving average is $23.40. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $26.59. The company has a market capitalization of $77.79 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05.

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. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. As a group, analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Company Profile

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.