Advisors Preferred LLC Invests $651,000 in ING Group, N.V. $ING

Advisors Preferred LLC purchased a new stake in ING Group, N.V. (NYSE:ING) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,993 shares of the financial services provider’s stock, valued at approximately $651,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its position 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 acquiring an additional 593,424 shares during the period. Goldman Sachs Group Inc. grew its position in shares of ING Group by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock valued at $218,535,000 after purchasing an additional 191,101 shares in the last quarter. Northern Trust Corp grew its position in shares of ING Group by 1.7% during the 3rd quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock valued at $116,223,000 after purchasing an additional 73,959 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of ING Group by 61.9% in 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 period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of ING Group by 0.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,784,650 shares of the financial services provider’s stock worth $49,970,000 after purchasing an additional 6,100 shares during the period. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Up 1.4%

ING opened at $32.77 on Wednesday. The company has a market cap of $95.36 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.04 and a beta of 0.85. The business’s 50-day moving average price is $30.83 and its 200-day moving average price is $29.09. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group, N.V. has a 12 month low of $22.40 and a 12 month high of $33.13.

ING Group (NYSE:ING) last issued its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $616.97 million for the quarter, compared to analysts’ expectations of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. On average, equities analysts expect that ING Group, N.V. will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ING. Morgan Stanley restated an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.