PNC Financial Services Group Inc. Increases Position in ING Groep (NYSE:ING)

PNC Financial Services Group Inc. lifted its holdings in shares of ING Groep (NYSE:ING) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,752 shares of the financial services provider’s stock after acquiring an additional 6,516 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ING Groep were worth $1,422,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. IFP Advisors Inc increased its position in shares of ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 621 shares during the last quarter. SRS Capital Advisors Inc. grew its position in ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after buying an additional 665 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in ING Groep by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 722 shares during the period. Confluence Investment Management LLC boosted its stake in ING Groep by 1.7% in the fourth quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 790 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of ING Groep by 4.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,029 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 875 shares during the period. 4.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Stock Up 2.4 %

ING stock opened at $20.26 on Friday. The stock has a fifty day moving average of $17.26 and a 200-day moving average of $16.90. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $20.79. The company has a market capitalization of $70.86 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 6.42 and a beta of 1.44. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. As a group, equities research analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid a $0.1667 dividend. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio is 29.91%.

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.