Bridges Investment Management Inc. Decreases Stock Holdings in ING Group, N.V. $ING

Bridges Investment Management Inc. decreased its position in ING Group, N.V. (NYSE:ING) by 44.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,987 shares of the financial services provider’s stock after selling 225,640 shares during the quarter. Bridges Investment Management Inc.’s holdings in ING Group were worth $7,784,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of ING Group during the third quarter valued at about $451,000. Citigroup Inc. increased its position in shares of ING Group by 249.9% during the third quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after buying an additional 1,462,527 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of ING Group by 28.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock valued at $20,103,000 after buying an additional 157,111 shares during the period. Envestnet Asset Management Inc. increased its position in shares of ING Group by 4.3% during the third quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock valued at $51,918,000 after buying an additional 82,340 shares during the period. Finally, First Pacific Financial increased its position in shares of ING Group by 665.4% during the fourth quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock valued at $1,256,000 after buying an additional 38,983 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ING. Zacks Research lowered shares of ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Wall Street Zen lowered shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Trading Up 0.6%

NYSE:ING opened at $31.04 on Wednesday. ING Group, N.V. has a one year low of $20.39 and a one year high of $31.40. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day simple moving average is $28.50 and its 200 day simple moving average is $28.06. The firm has a market capitalization of $90.32 billion, a P/E ratio of 12.27, a PEG ratio of 0.99 and a beta of 0.84.

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 the consensus estimate of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. As a group, analysts forecast that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

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.