Elevation Point Wealth Partners LLC Increases Holdings in ING Group, N.V. $ING

Elevation Point Wealth Partners LLC boosted its stake in ING Group, N.V. (NYSE:ING) by 179.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,727 shares of the financial services provider’s stock after purchasing an additional 72,363 shares during the period. Elevation Point Wealth Partners LLC’s holdings in ING Group were worth $2,937,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ING. 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 worth $191,681,000 after buying an additional 593,424 shares during the period. Goldman Sachs Group Inc. raised its holdings 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 buying an additional 191,101 shares during the period. Northern Trust Corp lifted its position in 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 worth $116,223,000 after acquiring an additional 73,959 shares in the last quarter. Wells Fargo & Company MN lifted its position in ING Group by 61.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after acquiring an additional 1,032,177 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in ING Group by 0.3% in the 4th 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 acquiring an additional 6,100 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ING has been the subject of several recent research reports. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Zacks Research lowered shares of ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

ING Group Trading Down 0.0%

ING Group stock opened at $32.09 on Friday. The firm’s 50-day moving average is $30.22 and its 200-day moving average is $28.86. 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 1 year low of $22.28 and a 1 year high of $32.40. The company has a market cap of $93.41 billion, a P/E ratio of 12.69, a PEG ratio of 1.03 and a beta of 0.85.

ING Group (NYSE:ING) last announced its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $616.97 million during 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%. On average, equities analysts expect that ING Group, N.V. will post 2.77 earnings per share for the current year.

About ING Group

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.