Pitcairn Co. Invests $290,000 in ING Groep (NYSE:ING)

Pitcairn Co. bought a new position in ING Groep (NYSE:ING) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,609 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James & Associates grew its position in shares of ING Groep by 31.1% during the 4th quarter. Raymond James & Associates now owns 488,936 shares of the financial services provider’s stock valued at $7,344,000 after buying an additional 116,114 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of ING Groep by 196.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 47,106 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 31,233 shares during the period. Ritholtz Wealth Management lifted its stake in shares of ING Groep by 2.9% in the 4th quarter. Ritholtz Wealth Management now owns 80,479 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 2,297 shares during the period. Global Retirement Partners LLC lifted its stake in shares of ING Groep by 128.5% in the 4th quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 2,808 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of ING Groep by 4.5% in the 4th quarter. Caprock Group LLC now owns 65,590 shares of the financial services provider’s stock worth $985,000 after acquiring an additional 2,798 shares during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

Shares of NYSE ING traded down $0.01 during midday trading on Thursday, reaching $18.35. The company’s stock had a trading volume of 1,435,384 shares, compared to its average volume of 2,602,937. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The company has a 50 day moving average price of $17.65 and a 200 day moving average price of $15.99. ING Groep has a one year low of $12.44 and a one year high of $18.66. The company has a market cap of $64.19 billion, a price-to-earnings ratio of 8.12 and a beta of 1.54.

ING Groep (NYSE:ING) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.52 EPS for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The business had revenue of $6.06 billion for the quarter. On average, equities research analysts expect that ING Groep will post 2.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded shares of ING Groep from an “equal weight” rating to an “overweight” rating in a report on Friday, June 7th.

ING Groep 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.