QRG Capital Management Inc. Acquires 162,805 Shares of ING Group, N.V. $ING

QRG Capital Management Inc. boosted its holdings in shares of ING Group, N.V. (NYSE:ING) by 91.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,729 shares of the financial services provider’s stock after purchasing an additional 162,805 shares during the period. QRG Capital Management Inc.’s holdings in ING Group were worth $8,902,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ING. Wells Fargo & Company MN grew its holdings in shares of ING Group by 61.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after purchasing an additional 1,032,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ING Group by 4,512.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider’s stock valued at $25,520,000 after buying an additional 891,652 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of ING Group by 7.3% in the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after buying an additional 593,424 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in ING Group by 885.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock worth $11,821,000 after buying an additional 369,310 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in ING Group by 22.2% during the 3rd quarter. American Century Companies Inc. now owns 1,721,021 shares of the financial services provider’s stock worth $44,884,000 after buying an additional 312,720 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Price Performance

ING Group stock opened at $32.09 on Friday. The business’s 50-day simple moving average is $30.22 and its 200 day simple moving average is $28.86. The stock has a market cap of $93.41 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.03 and a beta of 0.85. ING Group, N.V. has a 12-month low of $22.28 and a 12-month high of $32.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73.

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, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, research analysts anticipate that ING Group, N.V. will post 2.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Wall Street Zen cut shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. One 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, ING Group 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.