Bridges Investment Management Inc. Sells 225,640 Shares of ING Group, N.V. $ING

Bridges Investment Management Inc. decreased its stake in shares of ING Group, N.V. (NYSE:ING) by 44.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 277,987 shares of the financial services provider’s stock after selling 225,640 shares during the period. Bridges Investment Management Inc.’s holdings in ING Group were worth $7,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aprio Wealth Management LLC grew its position in shares of ING Group by 1.6% in the 4th quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider’s stock worth $651,000 after buying an additional 370 shares during the last quarter. Binnacle Investments Inc grew its position in shares of ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after buying an additional 395 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of ING Group by 0.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 397 shares during the last quarter. AE Wealth Management LLC grew its position in shares of ING Group by 2.5% in the 3rd quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider’s stock worth $440,000 after buying an additional 410 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of ING Group by 3.1% in the 4th quarter. Prospera Financial Services Inc now owns 15,163 shares of the financial services provider’s stock worth $425,000 after buying an additional 460 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Stock Performance

Shares of NYSE ING opened at $31.04 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group, N.V. has a 12 month low of $20.39 and a 12 month high of $31.40. The company has a 50 day simple moving average of $28.50 and a two-hundred day simple moving average of $28.06. The stock has a market cap of $90.32 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.99 and a beta of 0.84.

ING Group (NYSE:ING) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.86 billion. As a group, analysts predict that ING Group, N.V. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ING shares. Zacks Research downgraded shares of ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a research report on Friday. Finally, Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About ING Group

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.