Financial Management Professionals Inc. Has $27,000 Stake in ING Groep (NYSE:ING)

Financial Management Professionals Inc. raised its position in shares of ING Groep (NYSE:ING) by 67.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,639 shares of the financial services provider’s stock after acquiring an additional 662 shares during the period. Financial Management Professionals Inc.’s holdings in ING Groep were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of ING Groep in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC bought a new position in ING Groep in the fourth quarter valued at approximately $54,000. NBC Securities Inc. boosted its stake in ING Groep by 24.5% in the fourth quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 805 shares during the last quarter. Global Retirement Partners LLC boosted its stake in ING Groep by 128.5% in the fourth quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 2,808 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in ING Groep by 17.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,927 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 883 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Trading Up 0.6 %

Shares of NYSE ING opened at $17.15 on Friday. The company’s fifty day moving average is $17.16 and its 200-day moving average is $15.58. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 7.59 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 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 announced 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 for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. Equities research analysts predict that ING Groep will post 2.01 EPS for the current year.

ING Groep 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.