ING Groep (NYSE:ING) Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management increased its position in shares of ING Groep (NYSE:ING) by 26.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 118,407 shares of the financial services provider’s stock after purchasing an additional 24,831 shares during the period. Ritholtz Wealth Management’s holdings in ING Groep were worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gallacher Capital Management LLC grew its position in shares of ING Groep by 2.8% during the 1st quarter. Gallacher Capital Management LLC now owns 21,892 shares of the financial services provider’s stock valued at $361,000 after buying an additional 604 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of ING Groep by 3.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 17,500 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 637 shares during the last quarter. Financial Management Professionals Inc. boosted its position in ING Groep by 67.8% during the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares during the period. Claro Advisors LLC grew its stake in ING Groep by 5.5% during the 1st quarter. Claro Advisors LLC now owns 13,438 shares of the financial services provider’s stock worth $222,000 after buying an additional 696 shares during the last quarter. Finally, 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 worth $226,000 after buying an additional 740 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Price Performance

NYSE ING opened at $18.21 on Monday. The company has a 50-day moving average price of $17.67 and a two-hundred day moving average price of $16.72. ING Groep has a 52 week low of $12.44 and a 52 week high of $18.66. The stock has a market cap of $63.70 billion, a price-to-earnings ratio of 8.06 and a beta of 1.54. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The business had revenue of $6.15 billion during the quarter. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Analysts forecast that ING Groep will post 2.02 EPS for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This represents a dividend yield of 5.9%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s dividend payout ratio (DPR) is 28.76%.

Analyst Upgrades and Downgrades

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

ING Groep Company 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.