Logan Capital Management Inc. Boosts Stock Holdings in ING Groep (NYSE:ING)

Logan Capital Management Inc. boosted its stake in shares of ING Groep (NYSE:INGGet Rating) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,073 shares of the financial services provider’s stock after acquiring an additional 5,198 shares during the period. Logan Capital Management Inc.’s holdings in ING Groep were worth $1,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ING. Farmers & Merchants Investments Inc. grew its stake in shares of ING Groep by 80.6% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,428 shares in the last quarter. CWM LLC lifted its holdings in shares of ING Groep by 68.9% in the 1st quarter. CWM LLC now owns 3,585 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,463 shares during the last quarter. UMB Bank N A MO bought a new stake in shares of ING Groep in the 4th quarter worth about $38,000. Prospera Financial Services Inc bought a new stake in shares of ING Groep in the 1st quarter worth about $54,000. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of ING Groep by 14.7% in the 1st quarter. Contravisory Investment Management Inc. now owns 10,351 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 1,328 shares during the last quarter. 4.39% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Up 3.1 %

Shares of ING Groep stock opened at $9.17 on Monday. The firm’s 50 day moving average price is $9.27 and its 200-day moving average price is $9.93. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 1.65. ING Groep has a 52-week low of $8.42 and a 52-week high of $15.97. The company has a market cap of $35.77 billion, a P/E ratio of 7.91, a PEG ratio of 0.89 and a beta of 1.63.

ING Groep Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 15th were given a $0.1737 dividend. This represents a dividend yield of 10.1%. The ex-dividend date of this dividend was Friday, August 12th. ING Groep’s payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ING. Barclays raised their target price on shares of ING Groep from €10.90 ($11.12) to €11.50 ($11.73) in a report on Thursday, June 2nd. UBS Group lifted their price objective on shares of ING Groep from €14.50 ($14.80) to €14.70 ($15.00) and gave the company a “buy” rating in a report on Monday, August 15th. Royal Bank of Canada decreased their price objective on shares of ING Groep from €12.50 ($12.76) to €11.00 ($11.22) in a report on Tuesday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of ING Groep from €12.80 ($13.06) to €13.00 ($13.27) in a report on Wednesday, September 7th. Finally, The Goldman Sachs Group assumed coverage on shares of ING Groep in a report on Monday, May 30th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.74.

ING Groep Company Profile

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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