Evergreen Capital Management LLC Purchases 1,161 Shares of ING Groep (NYSE:ING)

Evergreen Capital Management LLC increased its position in shares of ING Groep (NYSE:ING) by 3.3% in the second quarter, HoldingsChannel reports. The firm owned 36,229 shares of the financial services provider’s stock after purchasing an additional 1,161 shares during the period. Evergreen Capital Management LLC’s holdings in ING Groep were worth $621,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in shares of ING Groep by 8.5% during the fourth quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock worth $956,435,000 after buying an additional 4,995,615 shares in the last quarter. Wells Fargo & Company MN boosted its stake in ING Groep by 96.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after purchasing an additional 655,011 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ING Groep by 150.1% in the second quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after buying an additional 359,535 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of ING Groep in the second quarter valued at about $4,626,000. 4.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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 Performance

ING stock opened at $18.02 on Thursday. The company has a 50 day moving average price of $17.82 and a 200 day moving average price of $17.24. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.72. 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 stock has a market capitalization of $63.04 billion, a PE ratio of 7.97 and a beta of 1.52.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (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 last year, the company earned $0.65 EPS. Analysts forecast that ING Groep will post 2.04 EPS for the current year.

ING Groep Increases Dividend

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

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.