Wells Fargo & Company MN Has $54.97 Million Stake in ING Groep NV (ING)

Wells Fargo & Company MN grew its position in shares of ING Groep NV (NYSE:ING) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,984,338 shares of the financial services provider’s stock after acquiring an additional 126,009 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of ING Groep worth $54,971,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its holdings in ING Groep by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 6,989 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 389 shares during the period. Krilogy Financial LLC acquired a new stake in ING Groep in the second quarter worth about $127,000. MAI Capital Management acquired a new stake in ING Groep in the second quarter worth about $178,000. Diligent Investors LLC acquired a new stake in ING Groep in the third quarter worth about $190,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in ING Groep in the third quarter worth about $190,000. 2.97% of the stock is owned by institutional investors.

Shares of ING Groep NV (ING) traded up $0.42 during trading on Friday, reaching $18.55. 9,069,131 shares of the company’s stock traded hands, compared to its average volume of 2,583,551. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.05. ING Groep NV has a 12-month low of $13.63 and a 12-month high of $19.01. The company has a market capitalization of $70,306.32, a PE ratio of 12.09, a PEG ratio of 2.29 and a beta of 1.20.

ING has been the subject of several research analyst reports. Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a report on Wednesday, September 6th. UBS reaffirmed a “buy” rating on shares of ING Groep in a report on Tuesday, September 5th. Deutsche Bank reaffirmed a “buy” rating on shares of ING Groep in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, ValuEngine upgraded shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.50.

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ING Groep 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.

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

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