Pinnacle Wealth Planning Services Inc. Acquires 1,916 Shares of ING Groep (NYSE:ING)

Pinnacle Wealth Planning Services Inc. boosted its stake in ING Groep (NYSE:ING) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,931 shares of the financial services provider’s stock after purchasing an additional 1,916 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in ING Groep were worth $411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Management Professionals Inc. boosted its position in shares of ING Groep by 67.8% during the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of ING Groep during the 4th quarter worth approximately $28,000. GAMMA Investing LLC purchased a new position in ING Groep in the 4th quarter valued at approximately $54,000. NBC Securities Inc. grew its stake in ING Groep by 24.5% in the 4th quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock valued at $61,000 after buying an additional 805 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in ING Groep by 128.5% in the 4th quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock valued at $69,000 after buying an additional 2,808 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ING Groep Trading Down 0.8 %

ING Groep stock traded down $0.15 during mid-day trading on Friday, hitting $18.27. The company’s stock had a trading volume of 1,254,406 shares, compared to its average volume of 1,531,469. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $63.91 billion, a price-to-earnings ratio of 8.08 and a beta of 1.54. The business has a 50 day moving average price of $17.59 and a 200-day moving average price of $15.91. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.61.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The company had revenue of $6.06 billion for the quarter. As a group, analysts forecast that ING Groep will post 2.02 EPS for the current year.

ING Groep Company 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.