GAMMA Investing LLC Buys 2,810 Shares of ING Group, N.V. (NYSE:ING)

GAMMA Investing LLC increased its stake in ING Group, N.V. (NYSE:ING) by 40.9% in the 1st quarter, Holdings Channel reports. The firm owned 9,682 shares of the financial services provider’s stock after purchasing an additional 2,810 shares during the period. GAMMA Investing LLC’s holdings in ING Group were worth $190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ING. Redwood Investments LLC bought a new position in shares of ING Group in the fourth quarter valued at approximately $41,000. IFP Advisors Inc grew its stake in ING Group by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after buying an additional 621 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in ING Group by 20.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after buying an additional 665 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in ING Group in the 4th quarter worth $157,000. Finally, Keel Point LLC acquired a new position in ING Group during the 4th quarter worth $157,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ING has been the topic of several research analyst reports. The Goldman Sachs Group raised ING Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Cfra Research upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ING Group currently has an average rating of “Moderate Buy”.

ING Group Stock Performance

Shares of NYSE:ING opened at $22.51 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.12 and a quick ratio of 1.12. The business’s fifty day moving average price is $20.94 and its two-hundred day moving average price is $18.73. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $22.52. The stock has a market capitalization of $78.73 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.11.

ING Group (NYSE:ING) last announced its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. ING Group had a return on equity of 11.68% and a net margin of 27.70%. As a group, analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group 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.