ING Groep (NYSE:ING) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its holdings in shares of ING Groep (NYSE:INGGet Rating) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,484 shares of the financial services provider’s stock after acquiring an additional 1,184 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in ING Groep were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gradient Investments LLC bought a new stake in shares of ING Groep in the 3rd quarter worth about $30,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of ING Groep in the 3rd quarter worth approximately $80,000. Flagship Harbor Advisors LLC acquired a new stake in shares of ING Groep in the 3rd quarter worth approximately $323,000. Sawtooth Solutions LLC acquired a new stake in ING Groep during the third quarter valued at approximately $87,000. Finally, DAVENPORT & Co LLC lifted its stake in ING Groep by 5.6% during the third quarter. DAVENPORT & Co LLC now owns 43,626 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 2,317 shares during the last quarter. Institutional investors and hedge funds own 3.99% of the company’s stock.

ING Groep Stock Up 0.6 %

Shares of NYSE ING opened at $13.70 on Tuesday. ING Groep has a 52 week low of $8.14 and a 52 week high of $15.97. The business has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $10.32. The company has a market cap of $53.44 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.62 and a beta of 1.57.

ING Groep (NYSE:INGGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.30 billion. ING Groep had a net margin of 19.14% and a return on equity of 6.29%. Equities research analysts anticipate that ING Groep will post 1 EPS for the current year.

ING Groep Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Monday, January 23rd. Investors of record on Tuesday, January 17th will be given a dividend of $0.074 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a dividend yield of 4.6%. ING Groep’s dividend payout ratio is presently 28.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ING shares. Credit Suisse Group upped their price objective on shares of ING Groep from €13.50 ($14.67) to €14.00 ($15.22) and gave the company an “outperform” rating in a research note on Friday, September 30th. Morgan Stanley raised their price objective on shares of ING Groep from €14.00 ($15.22) to €16.00 ($17.39) and gave the company an “overweight” rating in a research report on Friday, November 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ING Groep from €15.00 ($16.30) to €16.00 ($17.39) in a research note on Wednesday, November 9th. JPMorgan Chase & Co. lifted their price objective on shares of ING Groep from €13.00 ($14.13) to €13.40 ($14.57) in a research note on Wednesday, December 7th. Finally, UBS Group lifted their price objective on shares of ING Groep from €15.00 ($16.30) to €15.80 ($17.17) in a report on Monday, November 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.91.

About ING Groep

(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.

Featured Articles

Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Groep (NYSE:INGGet Rating).

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

Receive News & Ratings for ING Groep Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ING Groep and related companies with MarketBeat.com's FREE daily email newsletter.