Richardson Financial Services Inc. Invests $28,000 in ING Groep (NYSE:ING)

Richardson Financial Services Inc. bought a new stake in ING Groep (NYSE:ING) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,880 shares of the financial services provider’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC purchased a new position in ING Groep in the fourth quarter valued at $733,000. Raymond James & Associates lifted its holdings 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 worth $7,344,000 after buying an additional 116,114 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in ING Groep during the 3rd quarter worth about $800,000. HTLF Bank purchased a new stake in ING Groep during the 4th quarter worth about $4,629,000. Finally, Tudor Investment Corp Et Al increased its position in shares of ING Groep by 2,784.1% during the third quarter. Tudor Investment Corp Et Al now owns 329,939 shares of the financial services provider’s stock worth $4,349,000 after purchasing an additional 318,499 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Stock Performance

Shares of ING stock opened at $17.03 on Tuesday. The stock has a market capitalization of $59.57 billion, a PE ratio of 7.54 and a beta of 1.54. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.04. The stock’s 50-day moving average price is $17.03 and its 200 day moving average price is $15.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

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

Analysts Set New Price Targets

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

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.