Confluence Investment Management LLC Takes Position in ING Groep (NYSE:ING)

Confluence Investment Management LLC purchased a new position in ING Groep (NYSE:ING) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,934 shares of the financial services provider’s stock, valued at approximately $807,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ING. Verdence Capital Advisors LLC purchased a new position in shares of ING Groep during the fourth quarter worth approximately $733,000. Raymond James & Associates raised its position in ING Groep by 31.1% during the 4th quarter. Raymond James & Associates now owns 488,936 shares of the financial services provider’s stock valued at $7,344,000 after purchasing an additional 116,114 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ING Groep in the 3rd quarter worth $800,000. HTLF Bank bought a new position in shares of ING Groep during the 4th quarter worth $4,629,000. Finally, Tudor Investment Corp Et Al raised its holdings in shares of ING Groep by 2,784.1% in the third quarter. Tudor Investment Corp Et Al now owns 329,939 shares of the financial services provider’s stock valued at $4,349,000 after acquiring an additional 318,499 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

Analyst Ratings Changes

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

ING Groep Stock Down 0.2 %

NYSE ING traded down $0.04 during midday trading on Tuesday, hitting $16.97. 985,882 shares of the company traded hands, compared to its average volume of 2,814,246. The company has a market cap of $59.36 billion, a PE ratio of 7.54 and a beta of 1.54. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. ING Groep has a 52 week low of $12.44 and a 52 week high of $18.04. The company’s 50-day simple moving average is $17.03 and its 200-day simple moving average is $15.44.

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

ING Groep Profile

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.