LFG Wealth Partners LLC Invests $1.53 Million in ING Group, N.V. $ING

LFG Wealth Partners LLC acquired a new position in shares of ING Group, N.V. (NYSE:ING) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 54,631 shares of the financial services provider’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thornburg Investment Management Inc. grew its position in shares of ING Group by 15.8% during the fourth quarter. Thornburg Investment Management Inc. now owns 632,753 shares of the financial services provider’s stock worth $17,717,000 after buying an additional 86,364 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of ING Group during the fourth quarter worth about $785,000. MML Investors Services LLC grew its position in shares of ING Group by 0.7% during the fourth quarter. MML Investors Services LLC now owns 67,839 shares of the financial services provider’s stock worth $1,899,000 after buying an additional 467 shares in the last quarter. Mariner LLC grew its position in shares of ING Group by 7.0% during the fourth quarter. Mariner LLC now owns 258,692 shares of the financial services provider’s stock worth $7,244,000 after buying an additional 17,029 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of ING Group during the fourth quarter worth about $324,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ING. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Finally, Wall Street Zen lowered shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

ING Group Stock Performance

Shares of ING Group stock opened at $30.39 on Tuesday. The firm has a market capitalization of $88.44 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.97 and a beta of 0.84. ING Group, N.V. has a 52 week low of $20.39 and a 52 week high of $31.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm’s 50 day moving average is $29.37 and its two-hundred day moving average is $28.39.

ING Group (NYSE:ING) last announced 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. The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. Research analysts forecast that ING Group, N.V. will post 2.77 EPS for the current fiscal 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.