Checchi Capital Advisers LLC Boosts Holdings in ING Groep (NYSE:ING)

Checchi Capital Advisers LLC grew its stake in ING Groep (NYSE:ING) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,500 shares of the financial services provider’s stock after purchasing an additional 637 shares during the quarter. Checchi Capital Advisers LLC’s holdings in ING Groep were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gallacher Capital Management LLC lifted its holdings in ING Groep by 2.8% in the 1st quarter. Gallacher Capital Management LLC now owns 21,892 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 604 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares in the last quarter. Claro Advisors LLC boosted its position in ING Groep by 5.5% during the first quarter. Claro Advisors LLC now owns 13,438 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 696 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in ING Groep by 6.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 13,167 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 740 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in ING Groep by 1.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 48,854 shares of the financial services provider’s stock valued at $806,000 after acquiring an additional 796 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Trading Down 2.2 %

Shares of ING stock opened at $17.89 on Thursday. 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 twelve month low of $12.44 and a twelve month high of $18.66. The company’s 50-day moving average price is $17.60 and its 200-day moving average price is $16.62. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of 7.92 and a beta of 1.54.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.71%. During the same period last year, the company earned $0.65 EPS. As a group, equities analysts predict that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a $0.8143 dividend. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s payout ratio is currently 28.32%.

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.