Pitcairn Co. Invests $290,000 in ING Groep (NYSE:ING)

Pitcairn Co. acquired a new position in shares of ING Groep (NYSE:ING) during the first quarter, Holdings Channel reports. The fund acquired 17,609 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its position in shares of ING Groep by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 63,776,162 shares of the financial services provider’s stock worth $957,918,000 after purchasing an additional 5,094,340 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after purchasing an additional 622,037 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of ING Groep by 75.4% in the 4th quarter. Natixis Advisors L.P. now owns 1,802,537 shares of the financial services provider’s stock worth $27,074,000 after acquiring an additional 774,781 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of ING Groep by 96.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after acquiring an additional 655,011 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of ING Groep by 2,566.3% in the 4th quarter. BNP Paribas Financial Markets now owns 894,059 shares of the financial services provider’s stock worth $13,429,000 after acquiring an additional 860,527 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Stock Performance

Shares of ING stock traded down $0.01 during trading hours on Thursday, hitting $18.35. 1,435,384 shares of the company were exchanged, compared to its average volume of 2,602,937. The firm has a fifty day simple moving average of $17.65 and a 200 day simple moving average of $15.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.66. The stock has a market capitalization of $64.19 billion, a price-to-earnings ratio of 8.12 and a beta of 1.54.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.52 EPS 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%. Research analysts predict that ING Groep will post 2.02 earnings per share 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.