PNC Financial Services Group Inc. Has $1.47 Million Stock Holdings in ING Groep (NYSE:ING)

PNC Financial Services Group Inc. lifted its position in ING Groep (NYSE:ING) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,975 shares of the financial services provider’s stock after acquiring an additional 7,353 shares during the period. PNC Financial Services Group Inc.’s holdings in ING Groep were worth $1,472,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ING. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $698,000. Envestnet Asset Management Inc. increased its stake in ING Groep by 3.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,799,350 shares of the financial services provider’s stock worth $36,895,000 after purchasing an additional 98,057 shares in the last quarter. FMR LLC increased its stake in ING Groep by 10.2% during the 3rd quarter. FMR LLC now owns 5,113,296 shares of the financial services provider’s stock worth $67,393,000 after purchasing an additional 474,505 shares in the last quarter. Acadian Asset Management LLC bought a new stake in ING Groep during the 3rd quarter worth approximately $800,000. Finally, LPL Financial LLC increased its stake in ING Groep by 24.8% during the 3rd quarter. LPL Financial LLC now owns 274,444 shares of the financial services provider’s stock worth $3,617,000 after purchasing an additional 54,552 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ING Groep Price Performance

Shares of ING opened at $16.62 on Friday. The stock has a market capitalization of $58.14 billion, a P/E ratio of 7.35 and a beta of 1.54. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.04. The company has a 50 day moving average of $17.05 and a 200-day moving average of $15.50. 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 issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $6.06 billion during the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. As a group, equities research analysts forecast that ING Groep will post 2.01 EPS 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.