Claro Advisors LLC Grows Position in ING Groep (NYSE:ING)

Claro Advisors LLC lifted its position in ING Groep (NYSE:ING) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,438 shares of the financial services provider’s stock after purchasing an additional 696 shares during the quarter. Claro Advisors LLC’s holdings in ING Groep were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ING. Financial Management Professionals Inc. lifted its position in ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after buying an additional 662 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in shares of ING Groep by 5.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 12,992 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 725 shares in the last quarter. NBC Securities Inc. lifted its position in shares of ING Groep by 24.5% during the fourth quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 805 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of ING Groep by 5.0% during the fourth quarter. Personal CFO Solutions LLC now owns 17,861 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 848 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of ING Groep by 17.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,927 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Up 2.6 %

Shares of ING opened at $17.58 on Tuesday. The company’s 50-day simple moving average is $17.16 and its 200-day simple moving average is $15.60. The stock has a market capitalization of $61.50 billion, a PE ratio of 7.78 and a beta of 1.54. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.04. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

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

About ING Groep

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.