Financial Management Professionals Inc. Grows Stock Position in ING Groep (NYSE:ING)

Financial Management Professionals Inc. raised its stake in shares of ING Groep (NYSE:ING) by 67.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,639 shares of the financial services provider’s stock after buying an additional 662 shares during the period. Financial Management Professionals Inc.’s holdings in ING Groep were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC increased its stake in ING Groep by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 63,776,162 shares of the financial services provider’s stock worth $957,918,000 after buying an additional 5,094,340 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after buying an additional 622,037 shares in the last quarter. Natixis Advisors L.P. increased its stake in ING Groep by 75.4% during the 4th quarter. Natixis Advisors L.P. now owns 1,802,537 shares of the financial services provider’s stock worth $27,074,000 after buying an additional 774,781 shares in the last quarter. Wells Fargo & Company MN increased its stake in ING Groep by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after buying an additional 655,011 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in ING Groep by 1.9% during the 3rd quarter. American Century Companies Inc. now owns 913,069 shares of the financial services provider’s stock worth $12,034,000 after buying an additional 16,871 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a report on Friday, June 7th.

ING Groep Stock Up 0.6 %

ING Groep stock opened at $17.15 on Friday. The firm has a market capitalization of $59.98 billion, a P/E ratio of 7.59 and a beta of 1.54. The stock’s fifty day simple moving average is $17.16 and its 200-day simple moving average is $15.58. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.04.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.52 EPS for the quarter. ING Groep had a return on equity of 13.22% and a net margin of 32.20%. The firm had revenue of $6.06 billion for the quarter. As a group, equities analysts expect that ING Groep will post 2.01 earnings per share for the current fiscal year.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.