Wealthstar Advisors LLC Sells 18,125 Shares of ING Group, N.V. $ING

Wealthstar Advisors LLC cut its holdings in shares of ING Group, N.V. (NYSE:ING) by 25.2% during the first quarter, HoldingsChannel.com reports. The firm owned 53,800 shares of the financial services provider’s stock after selling 18,125 shares during the quarter. Wealthstar Advisors LLC’s holdings in ING Group were worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of ING Group by 7.3% during the 2nd 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. lifted its holdings in 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 valued at $218,535,000 after buying an additional 191,101 shares during the period. Northern Trust Corp grew its holdings 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 during the period. Wells Fargo & Company MN grew 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 worth $75,616,000 after acquiring an additional 1,032,177 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of 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 acquiring an additional 6,100 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

ING has been the topic of several recent research reports. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Zacks Research lowered ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, ING Group has a consensus rating of “Moderate Buy”.

ING Group Trading Down 0.0%

ING opened at $32.09 on Friday. The firm’s fifty day moving average is $30.22 and its two-hundred day moving average is $28.86. The firm has a market cap of $93.41 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.03 and a beta of 0.85. ING Group, N.V. has a twelve month low of $22.28 and a twelve month high of $32.40. 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 (NYSE:ING) last announced its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. Equities research analysts anticipate that ING Group, N.V. will post 2.77 EPS for the current year.

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.