Thornburg Investment Management Inc. Acquires 13,544 Shares of ING Group, N.V. $ING

Thornburg Investment Management Inc. grew its stake in ING Group, N.V. (NYSE:ING) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,851 shares of the financial services provider’s stock after acquiring an additional 13,544 shares during the period. Thornburg Investment Management Inc.’s holdings in ING Group were worth $11,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in ING Group during the second quarter valued at approximately $37,000. Maseco LLP acquired a new position in shares of ING Group during the 2nd quarter worth approximately $48,000. Whipplewood Advisors LLC raised its stake in shares of ING Group by 17.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,558 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 539 shares in the last quarter. MAI Capital Management boosted its holdings in shares of ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock valued at $82,000 after buying an additional 785 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of ING Group in the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ING. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Wednesday, November 19th. Citigroup upgraded shares of ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Keefe, Bruyette & Woods downgraded shares of ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Finally, Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, ING Group currently has an average rating of “Buy”.

ING Group Stock Up 2.7%

Shares of ING opened at $25.57 on Wednesday. The firm has a market cap of $80.46 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $26.59. The firm’s 50-day simple moving average is $25.07 and its 200 day simple moving average is $23.56.

ING Group (NYSE:ING) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.57%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. On average, analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.