Cetera Investment Advisers Purchases 10,471 Shares of ING Groep (NYSE:ING)

Cetera Investment Advisers grew its position in ING Groep (NYSE:ING) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,692 shares of the financial services provider’s stock after acquiring an additional 10,471 shares during the quarter. Cetera Investment Advisers’ holdings in ING Groep were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in ING Groep in the 4th quarter worth approximately $14,375,000. Oppenheimer Asset Management Inc. increased its stake in ING Groep by 18.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock worth $1,442,000 after acquiring an additional 14,476 shares during the last quarter. ABC Arbitrage SA bought a new stake in ING Groep in the 4th quarter worth approximately $10,129,000. Y Intercept Hong Kong Ltd increased its stake in ING Groep by 97.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 25,624 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of ING Groep by 33.2% in the 4th quarter. Boston Partners now owns 166,401 shares of the financial services provider’s stock worth $2,614,000 after purchasing an additional 41,457 shares during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

ING opened at $21.46 on Tuesday. The business has a fifty day moving average of $19.47 and a 200 day moving average of $17.49. ING Groep has a 52-week low of $15.09 and a 52-week high of $21.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $75.07 billion, a P/E ratio of 10.03, a PEG ratio of 6.42 and a beta of 1.15.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $5.74 billion. As a group, sell-side analysts anticipate that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a dividend of $0.6526 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a yield of 5.1%. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s payout ratio is presently 64.45%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Cfra Research upgraded ING Groep from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ING Groep presently has a consensus rating of “Moderate Buy”.

About ING Groep

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.