Rhumbline Advisers Has $1.53 Million Stock Position in ING Group, N.V. (NYSE:ING)

Rhumbline Advisers lifted its stake in shares of ING Group, N.V. (NYSE:ING) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,975 shares of the financial services provider’s stock after purchasing an additional 3,421 shares during the quarter. Rhumbline Advisers’ holdings in ING Group were worth $1,528,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ING. Allspring Global Investments Holdings LLC boosted its stake in ING Group 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 buying an additional 2,765 shares in the last quarter. Principal Securities Inc. boosted its stake in ING Group 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 buying an additional 16,503 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in ING Group in the fourth quarter valued at about $248,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in ING Group by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock valued at $229,000 after buying an additional 722 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in ING Group in the fourth quarter valued at about $164,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Price Performance

ING Group stock opened at $20.78 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $72.67 billion, a PE ratio of 9.85, a P/E/G ratio of 1.93 and a beta of 1.13. ING Group, N.V. has a 12 month low of $15.09 and a 12 month high of $21.76. The stock has a 50-day moving average price of $20.31 and a two-hundred day moving average price of $18.28.

ING Group (NYSE:ING) last posted its 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 firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. ING Group had a net margin of 27.70% and a return on equity of 11.68%. Analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Increases Dividend

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

Analysts Set New Price Targets

ING has been the topic of several research analyst reports. Cfra Research raised ING Group from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised ING Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

ING Group Company Profile

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.