Wedmont Private Capital Has $208,000 Stake in ING Groep (NYSE:ING)

Wedmont Private Capital grew its holdings in ING Groep (NYSE:ING) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,415 shares of the financial services provider’s stock after purchasing an additional 693 shares during the quarter. Wedmont Private Capital’s holdings in ING Groep were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in ING Groep during the fourth quarter worth about $248,000. Allspring Global Investments Holdings LLC raised its stake in shares of ING Groep by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,143 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 2,765 shares during the last quarter. ABC Arbitrage SA bought a new position in ING Groep in the 4th quarter worth approximately $10,129,000. Roxbury Financial LLC bought a new position in ING Groep in the 4th quarter worth approximately $25,000. Finally, Principal Securities Inc. raised its position in ING Groep by 689.6% in the 4th quarter. Principal Securities Inc. now owns 18,896 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 16,503 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Trading Up 0.9%

Shares of NYSE:ING opened at $21.17 on Friday. The company’s 50-day moving average price is $20.04 and its two-hundred day moving average price is $18.13. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a one year low of $15.09 and a one year high of $21.76. The stock has a market capitalization of $74.06 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 6.42 and a beta of 1.13.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $5.74 billion. ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, equities analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were issued a $0.6526 dividend. This represents a dividend yield of 5.1%. This is a boost 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 is presently 64.45%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Cfra Research raised shares of ING Groep from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Four equities research 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’s stock. According to data from MarketBeat, ING Groep has an average 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.