ING Groep (NYSE:ING) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its holdings in ING Groep (NYSE:ING) by 11.6% during the second quarter, Holdings Channel reports. The fund owned 582,485 shares of the financial services provider’s stock after buying an additional 60,390 shares during the quarter. Bridges Investment Management Inc.’s holdings in ING Groep were worth $9,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ING. Financial Management Professionals Inc. increased 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 acquiring an additional 662 shares during the period. Richardson Financial Services Inc. acquired a new stake in ING Groep during the fourth quarter valued at $28,000. Summit Securities Group LLC acquired a new stake in ING Groep during the second quarter valued at $31,000. Rothschild Investment LLC acquired a new stake in ING Groep during the second quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ING Groep during the second quarter valued at $38,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Up 1.2 %

ING stock opened at $18.63 on Friday. The firm has a market cap of $65.15 billion, a PE ratio of 8.24 and a beta of 1.52. 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 firm’s fifty day moving average is $17.81 and its 200 day moving average is $17.11. ING Groep has a one year low of $12.44 and a one year high of $18.66.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The business had revenue of $6.15 billion for the quarter. During the same quarter last year, the business earned $0.65 EPS. On average, research analysts forecast that ING Groep will post 2.02 EPS for the current year.

ING Groep Increases Dividend

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