Scotia Capital Inc. Buys New Position in ING Groep NV (NYSE:ING)

Scotia Capital Inc. bought a new stake in ING Groep NV (NYSE:ING) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,802 shares of the financial services provider’s stock, valued at approximately $125,000.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in ING Groep by 4.7% in the first quarter. Wells Fargo & Company MN now owns 3,231,082 shares of the financial services provider’s stock valued at $39,225,000 after buying an additional 145,097 shares during the period. Parametric Portfolio Associates LLC lifted its stake in ING Groep by 13.5% in the first quarter. Parametric Portfolio Associates LLC now owns 3,218,184 shares of the financial services provider’s stock valued at $39,069,000 after buying an additional 382,189 shares during the period. JPMorgan Chase & Co. lifted its stake in ING Groep by 360.4% in the first quarter. JPMorgan Chase & Co. now owns 2,388,171 shares of the financial services provider’s stock valued at $28,993,000 after buying an additional 1,869,498 shares during the period. Todd Asset Management LLC lifted its stake in ING Groep by 2.6% in the first quarter. Todd Asset Management LLC now owns 1,383,048 shares of the financial services provider’s stock valued at $16,790,000 after buying an additional 35,475 shares during the period. Finally, Rock Point Advisors LLC lifted its stake in ING Groep by 20.8% in the first quarter. Rock Point Advisors LLC now owns 735,598 shares of the financial services provider’s stock valued at $8,930,000 after buying an additional 126,799 shares during the period. Institutional investors and hedge funds own 3.22% of the company’s stock.

Shares of NYSE:ING traded down $0.14 during trading on Wednesday, reaching $10.44. 163,369 shares of the stock were exchanged, compared to its average volume of 2,990,781. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.96 and a quick ratio of 1.13. ING Groep NV has a 1-year low of $9.22 and a 1-year high of $13.77. The stock has a fifty day moving average of $9.94 and a two-hundred day moving average of $11.44. The firm has a market cap of $41.22 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 3.83 and a beta of 1.31.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter. ING Groep had a return on equity of 8.83% and a net margin of 24.99%. The company had revenue of $5.24 billion for the quarter. Sell-side analysts forecast that ING Groep NV will post 1.45 EPS for the current year.

Several equities analysts have issued reports on the company. Goldman Sachs Group reissued a “buy” rating on shares of ING Groep in a research note on Tuesday, September 10th. Exane BNP Paribas lowered ING Groep from an “outperform” rating to a “neutral” rating in a research note on Friday, August 2nd. Barclays assumed coverage on ING Groep in a research note on Friday, June 14th. They issued an “underweight” rating and a $11.15 price target on the stock. BNP Paribas lowered ING Groep from an “outperform” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised ING Groep from a “neutral” rating to an “overweight” rating in a research note on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.58.

ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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