Net Worth Advisory Group Invests $335,000 in ING Groep (NYSE:ING)

Net Worth Advisory Group purchased a new position in shares of ING Groep (NYSE:ING) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,433 shares of the financial services provider’s stock, valued at approximately $335,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its position in ING Groep by 67.8% during the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares during the period. Summit Securities Group LLC acquired a new position in ING Groep during the second quarter worth $31,000. Rothschild Investment LLC acquired a new position in ING Groep during the second quarter worth $31,000. Mather Group LLC. raised its position in ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 782 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ING Groep in the second quarter valued at $38,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Performance

Shares of ING stock opened at $17.38 on Monday. The stock has a fifty day moving average price of $17.77 and a 200 day moving average price of $17.45. 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 stock has a market cap of $60.80 billion, a PE ratio of 7.69 and a beta of 1.52. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72.

ING Groep (NYSE:ING) last released 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 during 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 firm earned $0.65 EPS. Sell-side analysts forecast that ING Groep will post 2.04 earnings per share 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. Shareholders of record on Thursday, August 8th were issued 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 an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is 28.32%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research report on Thursday.

ING Groep Company 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.