Allspring Global Investments Holdings LLC Has $10.29 Million Holdings in ING Group, N.V. $ING

Allspring Global Investments Holdings LLC decreased its position in shares of ING Group, N.V. (NYSE:ING) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 383,964 shares of the financial services provider’s stock after selling 27,058 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ING Group were worth $10,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ING. Evergreen Advisors LLC bought a new stake in shares of ING Group in the 1st quarter valued at $28,000. Advisors Preferred LLC acquired a new position in shares of ING Group in the 1st quarter valued at about $651,000. Checchi Capital Advisers LLC lifted its stake in shares of ING Group by 2.8% in the 1st quarter. Checchi Capital Advisers LLC now owns 19,490 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 529 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of ING Group during the 1st quarter valued at about $294,000. Finally, Bleakley Financial Group LLC boosted its position in shares of ING Group by 9.6% during the 1st quarter. Bleakley Financial Group LLC now owns 18,407 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ING. Zacks Research cut ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ING Group presently has an average rating of “Moderate Buy”.

ING Group Stock Performance

Shares of ING opened at $33.34 on Thursday. The firm has a market capitalization of $97.04 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.06 and a beta of 0.85. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. ING Group, N.V. has a 52 week low of $22.53 and a 52 week high of $33.46. The stock has a 50 day moving average price of $31.18 and a two-hundred day moving average price of $29.29.

ING Group (NYSE:ING) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. Equities analysts forecast that ING Group, N.V. will post 2.78 earnings per share for the current fiscal year.

ING Group 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.