ING Groep (NYSE:ING) Holdings Raised by MML Investors Services LLC

MML Investors Services LLC grew its stake in shares of ING Groep (NYSE:ING – Get Rating) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,836 shares of the financial services provider’s stock after purchasing an additional 3,860 shares during the period. MML Investors Services LLC’s holdings in ING Groep were worth $398,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ING. Gradient Investments LLC purchased a new stake in ING Groep in the 3rd quarter worth about $30,000. Ronald Blue Trust Inc. purchased a new stake in ING Groep in the 2nd quarter worth about $35,000. SRS Capital Advisors Inc. purchased a new stake in ING Groep in the 2nd quarter worth about $40,000. Heritage Wealth Management LLC purchased a new stake in ING Groep in the 2nd quarter worth about $72,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in ING Groep in the 3rd quarter worth about $80,000. 3.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ING shares. Societe Generale downgraded ING Groep from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. JPMorgan Chase & Co. raised their price target on ING Groep from €13.00 ($13.83) to €13.40 ($14.26) in a research note on Wednesday, December 7th. Deutsche Bank Aktiengesellschaft raised their price target on ING Groep from €15.00 ($15.96) to €16.00 ($17.02) in a research note on Wednesday, November 9th. Finally, Morgan Stanley raised their price target on ING Groep from €14.00 ($14.89) to €16.00 ($17.02) and gave the stock an “overweight” rating in a research note on Friday, November 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ING Groep presently has a consensus rating of “Moderate Buy” and an average price target of $13.91.

ING Groep Stock Up 0.2 %

ING opened at $13.91 on Thursday. The firm has a market capitalization of $54.26 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.30 and a beta of 1.59. The stock’s 50 day moving average price is $13.65 and its two-hundred day moving average price is $11.45. ING Groep has a 12-month low of $8.14 and a 12-month high of $14.72.

ING Groep Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, January 23rd. Shareholders of record on Tuesday, January 17th were issued a $0.074 dividend. This represents a yield of 4.6%. The ex-dividend date of this dividend was Friday, January 13th. ING Groep’s dividend payout ratio (DPR) is currently 14.71%.

About ING Groep

(Get Rating)

ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.