Park Avenue Securities LLC Boosts Holdings in ING Groep (NYSE:ING)

Park Avenue Securities LLC grew its position in ING Groep (NYSE:ING) by 63.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,481 shares of the financial services provider’s stock after acquiring an additional 20,778 shares during the quarter. Park Avenue Securities LLC’s holdings in ING Groep were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of ING Groep in the 4th quarter worth $248,000. Allspring Global Investments Holdings LLC grew its holdings in ING Groep by 10.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,143 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 2,765 shares during the period. ABC Arbitrage SA acquired a new stake in ING Groep during the fourth quarter worth about $10,129,000. Roxbury Financial LLC purchased a new position in ING Groep during the fourth quarter worth approximately $25,000. Finally, Principal Securities Inc. lifted its position in shares of ING Groep by 689.6% in the fourth quarter. Principal Securities Inc. now owns 18,896 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 16,503 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Trading Up 0.9%

Shares of ING Groep stock opened at $21.17 on Friday. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $21.76. The firm has a market cap of $74.06 billion, a PE ratio of 9.89, a P/E/G ratio of 6.42 and a beta of 1.13. The business’s fifty day moving average is $20.04 and its two-hundred day moving average is $18.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $5.74 billion. Analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $0.6526 dividend. This represents a yield of 5.1%. This is an increase from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, April 25th. ING Groep’s dividend payout ratio (DPR) is 64.45%.

Wall Street Analyst Weigh In

Several research firms recently commented on ING. The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Cfra Research raised ING Groep from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock 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.