Thornburg Investment Management Inc. Purchases 86,364 Shares of ING Group, N.V. $ING

Thornburg Investment Management Inc. increased its position in ING Group, N.V. (NYSE:ING) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 632,753 shares of the financial services provider’s stock after acquiring an additional 86,364 shares during the period. Thornburg Investment Management Inc.’s holdings in ING Group were worth $17,717,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. YANKCOM Partnership grew its holdings in shares of ING Group by 197.2% in the fourth quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 629 shares during the period. Binnacle Investments Inc grew its holdings in shares of ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 395 shares during the period. Transamerica Financial Advisors LLC grew its holdings in shares of ING Group by 359.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 871 shares during the period. Sound Income Strategies LLC grew its holdings in shares of ING Group by 129.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,283 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 723 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of ING Group by 418.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,431 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 1,155 shares during the period. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ING shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research lowered ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a 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. Based on data from MarketBeat, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

NYSE:ING opened at $30.17 on Monday. The stock has a 50-day simple moving average of $29.29 and a two-hundred day simple moving average of $28.35. ING Group, N.V. has a 52-week low of $20.39 and a 52-week high of $31.40. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $87.82 billion, a PE ratio of 11.93, a P/E/G ratio of 0.97 and a beta of 0.84.

ING Group (NYSE:ING) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. Analysts forecast that ING Group, N.V. will post 2.77 EPS for the current year.

ING Group Company 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.