Provenance Wealth Advisors LLC Acquires New Holdings in ING Group, N.V. $ING

Provenance Wealth Advisors LLC acquired a new position in shares of ING Group, N.V. (NYSE:ING) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,544 shares of the financial services provider’s stock, valued at approximately $871,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in ING Group by 1.0% in the 1st quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after purchasing an additional 61,919 shares during the last quarter. Quantinno Capital Management LP lifted its stake in ING Group by 9.5% during the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock worth $46,986,000 after purchasing an additional 156,461 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in ING Group by 9.1% during the third quarter. TD Waterhouse Canada Inc. now owns 421,191 shares of the financial services provider’s stock worth $14,416,000 after purchasing an additional 35,218 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of ING Group by 15.4% during the second quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider’s stock worth $12,372,000 after buying an additional 52,524 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of ING Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 313,500 shares of the financial services provider’s stock worth $8,167,000 after buying an additional 1,467 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ING shares. Jefferies Financial Group reaffirmed a “neutral” rating on shares of ING Group in a research note on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ING Group in a research note on Tuesday, August 25th. The Goldman Sachs Group reissued a “buy” rating on shares of ING Group in a research note on Friday, August 7th. DZ Bank restated a “buy” rating on shares of ING Group in a report on Tuesday, August 4th. Finally, Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, ING Group currently has an average rating of “Moderate Buy” and an average price target of $34.50.

ING Group Price Performance

ING stock opened at $32.88 on Thursday. The business’s 50-day moving average is $34.70 and its two-hundred day moving average is $31.33. The firm has a market capitalization of $94.03 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.85 and a beta of 0.89. ING Group, N.V. has a 1 year low of $24.35 and a 1 year high of $37.52.

ING Group Company Profile

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company’s products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.