Van Diest Capital LLC Purchases New Stake in ING Group, N.V. $ING

Van Diest Capital LLC purchased a new stake in shares of ING Group, N.V. (NYSE:ING) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 16,322 shares of the financial services provider’s stock, valued at approximately $425,000.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of ING Group by 7.3% during the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after acquiring an additional 593,424 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ING Group by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after purchasing an additional 191,101 shares during the last quarter. Northern Trust Corp grew its stake in shares of ING Group by 1.7% in the third quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock worth $116,223,000 after purchasing an additional 73,959 shares during the last quarter. Wells Fargo & Company MN increased its holdings 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 valued at $75,616,000 after purchasing an additional 1,032,177 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in ING Group by 0.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 1,784,650 shares of the financial services provider’s stock valued at $49,970,000 after purchasing an additional 6,100 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ING. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Zacks Research cut ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Stock Up 1.2%

Shares of NYSE:ING opened at $32.84 on Friday. The firm has a market capitalization of $93.93 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.82 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. The stock has a 50 day moving average price of $31.29 and a 200-day moving average price of $29.34. ING Group, N.V. has a 52-week low of $22.53 and a 52-week high of $33.46.

ING Group (NYSE:ING) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, equities research analysts anticipate that ING Group, N.V. will post 2.87 EPS 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.