Moors & Cabot Inc. Buys New Shares in ING Group, N.V. $ING

Moors & Cabot Inc. purchased a new position in shares of ING Group, N.V. (NYSE:ING) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other large investors have also added to or reduced their stakes in ING. SBI Securities Co. Ltd. lifted its holdings in shares of ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 912 shares during the period. V Square Quantitative Management LLC acquired a new position in ING Group in the 2nd quarter worth approximately $37,000. Maseco LLP purchased a new position in ING Group during the 2nd quarter worth approximately $48,000. Whipplewood Advisors LLC raised its position in ING Group by 17.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,558 shares of the financial services provider’s stock worth $78,000 after buying an additional 539 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in ING Group during the 2nd quarter valued at approximately $85,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ING. Weiss Ratings upgraded shares of ING Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

ING Group Stock Up 0.3%

ING stock opened at $25.72 on Monday. The firm has a market cap of $80.96 billion, a PE ratio of 11.59, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average is $24.87 and its 200 day moving average is $23.10. ING Group, N.V. has a one year low of $15.09 and a one year high of $26.27.

ING Group (NYSE:ING) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.57%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. On average, research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group 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.