ING Groep (NYSE:ING) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its position in ING Groep (NYSE:ING) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,397 shares of the financial services provider’s stock after purchasing an additional 2,498 shares during the period. Ballentine Partners LLC’s holdings in ING Groep were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in ING Groep by 14.0% in the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after buying an additional 80,398 shares in the last quarter. Capital Research Global Investors grew its position in shares of ING Groep by 51.2% during the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock valued at $3,360,000 after acquiring an additional 68,966 shares during the period. Confluence Investment Management LLC purchased a new position in shares of ING Groep in the 1st quarter valued at about $807,000. Lighthouse Investment Partners LLC acquired a new position in ING Groep in the 4th quarter worth about $1,402,000. Finally, Goldman Sachs Group Inc. boosted its position in ING Groep by 7.8% during the fourth 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. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Performance

NYSE:ING opened at $17.89 on Tuesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95. The stock has a market capitalization of $62.58 billion, a PE ratio of 7.92 and a beta of 1.52. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66. The company has a fifty day moving average of $17.76 and a two-hundred day moving average of $16.91.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS 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 12.65%. During the same period in the prior year, the firm earned $0.65 EPS. As a group, research analysts forecast that ING Groep will post 2.02 earnings per share for the current fiscal year.

ING Groep Increases Dividend

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

Wall Street Analyst Weigh In

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

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.