Fmr LLC Has $45.84 Million Holdings in ING Groep (NYSE:ING)

Fmr LLC lifted its stake in shares of ING Groep (NYSE:ING – Get Rating) by 29.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,621,059 shares of the financial services provider’s stock after buying an additional 1,060,586 shares during the period. Fmr LLC’s holdings in ING Groep were worth $45,841,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors increased its holdings in ING Groep by 3.6% in the first quarter. Capital International Investors now owns 3,409,290 shares of the financial services provider’s stock valued at $36,752,000 after purchasing an additional 118,464 shares during the period. Cambiar Investors LLC increased its holdings in ING Groep by 821.9% in the second quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock valued at $32,492,000 after purchasing an additional 2,920,134 shares during the period. Northern Trust Corp increased its holdings in ING Groep by 16.5% in the first quarter. Northern Trust Corp now owns 2,827,787 shares of the financial services provider’s stock valued at $29,495,000 after purchasing an additional 400,334 shares during the period. Citigroup Inc. increased its holdings in ING Groep by 6.1% in the first quarter. Citigroup Inc. now owns 1,828,332 shares of the financial services provider’s stock valued at $19,069,000 after purchasing an additional 104,595 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in ING Groep by 4,412.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after purchasing an additional 1,782,900 shares during the period. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ING has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on ING Groep in a report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their price target on ING Groep from €13.00 ($13.68) to €13.40 ($14.11) in a report on Wednesday. UBS Group increased their price target on ING Groep from €15.00 ($15.79) to €15.80 ($16.63) in a report on Monday, November 7th. Royal Bank of Canada increased their price target on ING Groep from €11.75 ($12.37) to €13.00 ($13.68) and gave the stock a “sector perform” rating in a report on Monday, November 7th. Finally, Morgan Stanley increased their price objective on shares of ING Groep from €14.00 ($14.74) to €16.00 ($16.84) and gave the stock an “overweight” rating in a research report on Friday, November 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.91.

ING Groep Price Performance

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Shares of NYSE ING opened at $11.79 on Thursday. ING Groep has a fifty-two week low of $8.14 and a fifty-two week high of $15.97. The stock has a market cap of $45.99 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.10 and a current ratio of 1.09. The firm’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $9.94.

About ING Groep

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ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.