Rhumbline Advisers Acquires 830 Shares of ING Groep (NYSE:ING)

Rhumbline Advisers boosted its holdings in shares of ING Groep (NYSE:ING) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 86,574 shares of the financial services provider’s stock after buying an additional 830 shares during the quarter. Rhumbline Advisers’ holdings in ING Groep were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ING. Janney Montgomery Scott LLC increased its stake in shares of ING Groep by 85.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 69,174 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 31,848 shares in the last quarter. PNC Financial Services Group Inc. increased its position in ING Groep by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 97,975 shares of the financial services provider’s stock worth $1,472,000 after buying an additional 7,353 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of ING Groep in the fourth quarter worth about $171,000. Wells Fargo & Company MN lifted its position in shares of ING Groep by 96.6% during 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, Corient Private Wealth LLC grew its stake in shares of ING Groep by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 125,244 shares of the financial services provider’s stock valued at $1,881,000 after acquiring an additional 1,307 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Up 0.2 %

Shares of ING stock opened at $18.66 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. ING Groep has a one year low of $12.44 and a one year high of $18.72. The company’s fifty day moving average price is $17.81 and its 200-day moving average price is $17.16. The company has a market capitalization of $65.28 billion, a price-to-earnings ratio of 8.26 and a beta of 1.52.

ING Groep (NYSE:ING) last posted its quarterly 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 for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same period in the prior year, the business earned $0.65 earnings per share. Sell-side analysts expect that ING Groep will post 2.02 EPS for the current fiscal year.

ING Groep Increases Dividend

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

Wall Street Analyst Weigh In

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 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.