GAMMA Investing LLC Grows Position in ING Groep (NYSE:ING)

GAMMA Investing LLC increased its holdings in ING Groep (NYSE:ING) by 36.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,214 shares of the financial services provider’s stock after acquiring an additional 2,213 shares during the quarter. GAMMA Investing LLC’s holdings in ING Groep were worth $149,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ING. Virtu Financial LLC purchased a new stake in shares of ING Groep during the fourth quarter valued at about $429,000. Goldman Sachs Group Inc. lifted its position 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 valued at $128,693,000 after buying an additional 622,037 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of ING Groep during the fourth quarter valued at about $28,000. Fisher Asset Management LLC lifted its position 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 valued at $956,435,000 after buying an additional 4,995,615 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of ING Groep during the fourth quarter valued at about $188,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Performance

ING opened at $17.41 on Friday. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.72. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. The company has a market cap of $60.90 billion, a P/E ratio of 7.95 and a beta of 1.52. The firm’s 50-day moving average price is $17.70 and its 200-day moving average price is $17.42.

ING Groep (NYSE:ING) last posted 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 net margin of 30.60% and a return on equity of 12.65%. The firm had revenue of $6.15 billion for the quarter. During the same quarter last year, the company earned $0.65 EPS. As a group, equities analysts anticipate that ING Groep will post 2.04 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. This represents a yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is 29.68%.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday.

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.