Thornburg Investment Management Inc. Lowers Position in ING Groep NV (ING)

Thornburg Investment Management Inc. reduced its stake in shares of ING Groep NV (NYSE:ING) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,055,640 shares of the financial services provider’s stock after selling 186,244 shares during the period. Thornburg Investment Management Inc. owned about 0.05% of ING Groep NV worth $31,020,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in ING Groep NV by 0.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,556 shares of the financial services provider’s stock valued at $192,000 after buying an additional 99 shares in the last quarter. Keybank National Association OH increased its position in ING Groep NV by 0.5% in the fourth quarter. Keybank National Association OH now owns 37,057 shares of the financial services provider’s stock valued at $523,000 after buying an additional 200 shares in the last quarter. Raymond James Trust N.A. increased its position in ING Groep NV by 1.3% in the first quarter. Raymond James Trust N.A. now owns 20,568 shares of the financial services provider’s stock valued at $310,000 after buying an additional 269 shares in the last quarter. Assetmark Inc. increased its position in ING Groep NV by 8.5% in the first quarter. Assetmark Inc. now owns 9,524 shares of the financial services provider’s stock valued at $144,000 after buying an additional 747 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in ING Groep NV by 2.2% in the third quarter. OLD National Bancorp IN now owns 50,560 shares of the financial services provider’s stock valued at $624,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 1.82% of the company’s stock.

Institutional Ownership by Quarter for ING Groep NV (NYSE:ING)

ING Groep NV (NYSE:ING) traded up 1.44% during trading on Friday, hitting $16.90. 3,074,616 shares of the company traded hands. The company has a market capitalization of $65.61 billion, a P/E ratio of 12.36 and a beta of 1.38. The stock has a 50 day moving average price of $15.95 and a 200 day moving average price of $14.74. ING Groep NV has a 12-month low of $9.26 and a 12-month high of $17.35.

ING Groep NV (NYSE:ING) last released its earnings results on Wednesday, May 10th. The financial services provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The company had revenue of $4.68 billion for the quarter. ING Groep NV had a return on equity of 9.73% and a net margin of 26.72%. On average, equities analysts anticipate that ING Groep NV will post $0.90 earnings per share for the current year.

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Several research firms have commented on ING. Jefferies Group LLC began coverage on shares of ING Groep NV in a report on Wednesday, April 19th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of ING Groep NV from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 5th. Deutsche Bank AG reiterated a “buy” rating on shares of ING Groep NV in a report on Tuesday, May 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of ING Groep NV in a report on Monday, February 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.00.

ING Groep NV Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

12 Month Chart for NYSE:ING

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