Naviter Wealth LLC Has $1.23 Million Position in ING Groep (NYSE:ING)

Naviter Wealth LLC lifted its stake in ING Groep (NYSE:ING) by 25.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,668 shares of the financial services provider’s stock after acquiring an additional 15,168 shares during the quarter. Naviter Wealth LLC’s holdings in ING Groep were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ING. Allspring Global Investments Holdings LLC lifted its holdings in shares of ING Groep by 5,319.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,651 shares of the financial services provider’s stock valued at $192,000 after buying an additional 11,436 shares during the last quarter. Claro Advisors LLC boosted its holdings in ING Groep by 5.5% in the first quarter. Claro Advisors LLC now owns 13,438 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 696 shares in the last quarter. BKM Wealth Management LLC increased its position in ING Groep by 35.6% during the first quarter. BKM Wealth Management LLC now owns 31,515 shares of the financial services provider’s stock worth $520,000 after buying an additional 8,282 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of ING Groep by 131.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,844 shares of the financial services provider’s stock worth $1,168,000 after buying an additional 40,208 shares during the last quarter. Finally, Galibier Capital Management Ltd. increased its holdings in shares of ING Groep by 58.4% during the 1st quarter. Galibier Capital Management Ltd. now owns 92,208 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 34,000 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ING Groep Stock Up 0.2 %

ING stock opened at $17.61 on Wednesday. The stock has a market capitalization of $61.60 billion, a price-to-earnings ratio of 7.79 and a beta of 1.54. The company has a 50-day moving average of $17.18 and a two-hundred day moving average of $15.61. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.04. 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 (NYSE:ING) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share for the quarter. ING Groep had a return on equity of 13.22% and a net margin of 32.20%. The firm had revenue of $6.06 billion during the quarter. As a group, equities research analysts anticipate that ING Groep will post 2.01 EPS 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.