Bank of New York Mellon Corp Has $10.27 Million Holdings in ING Groep (NYSE:ING)

Bank of New York Mellon Corp lifted its position in shares of ING Groep (NYSE:ING) by 150.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 599,012 shares of the financial services provider’s stock after purchasing an additional 359,535 shares during the quarter. Bank of New York Mellon Corp’s holdings in ING Groep were worth $10,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in shares of ING Groep by 8.5% during the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock worth $956,435,000 after purchasing an additional 4,995,615 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in ING Groep by 7.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock valued at $128,693,000 after buying an additional 622,037 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in ING Groep by 17.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after buying an additional 257,440 shares in the last quarter. Wells Fargo & Company MN boosted its stake in 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 valued at $20,021,000 after buying an additional 655,011 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in 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 valued at $13,429,000 after buying an additional 860,527 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Price Performance

Shares of ING stock opened at $17.89 on Tuesday. The stock’s fifty day simple moving average is $17.76 and its 200 day simple moving average is $16.91. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The firm has a market cap of $62.58 billion, a price-to-earnings ratio of 7.92 and a beta of 1.52. ING Groep has a one year low of $12.44 and a one year high of $18.66.

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 firm had revenue of $6.15 billion during the quarter. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, analysts expect that ING Groep will post 2.02 earnings per share for the current fiscal year.

ING Groep Increases Dividend

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

Wall Street Analyst Weigh In

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

ING Groep 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.