Ferguson Wellman Capital Management Inc. Purchases Shares of 21,076 ING Group, N.V. $ING

Ferguson Wellman Capital Management Inc. acquired a new position in ING Group, N.V. (NYSE:ING) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,076 shares of the financial services provider’s stock, valued at approximately $549,000.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in shares of ING Group by 4.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 361 shares in the last quarter. Aprio Wealth Management LLC increased its position in ING Group by 1.6% in the fourth quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 370 shares during the last quarter. Quadrant Capital Group LLC raised its stake in ING Group by 0.4% during the fourth quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock valued at $2,973,000 after purchasing an additional 374 shares in the last quarter. Binnacle Investments Inc raised its stake in ING Group by 57.0% during the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 395 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in ING Group by 10.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,470 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 423 shares during the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Stock Performance

Shares of NYSE:ING opened at $32.30 on Tuesday. 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 $32.99. The company has a market capitalization of $94.00 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.04 and a beta of 0.85. The firm’s 50-day moving average is $30.74 and its 200 day moving average is $29.06.

ING Group (NYSE:ING) last announced its quarterly earnings data 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. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The business had revenue of $616.97 million during the quarter, compared to the consensus estimate of $6.86 billion. Research analysts predict that ING Group, N.V. will post 2.77 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ING shares. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. Finally, Zacks Research cut ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, ING Group presently 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.