Nuveen LLC Buys New Stake in ING Group, N.V. $ING

Nuveen LLC bought a new stake in ING Group, N.V. (NYSE:ING) during the first quarter, according to its most recent filing with the SEC. The firm bought 185,588 shares of the financial services provider’s stock, valued at approximately $3,636,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Entropy Technologies LP acquired a new stake in ING Group in the 1st quarter worth $1,091,000. Benjamin Edwards Inc. grew its position in ING Group by 15.4% in the 1st quarter. Benjamin Edwards Inc. now owns 29,314 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 3,901 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in ING Group by 21.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 209,771 shares of the financial services provider’s stock worth $4,109,000 after purchasing an additional 37,704 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in ING Group in the 1st quarter worth $1,871,000. Finally, National Bank of Canada FI grew its position in ING Group by 1,434.0% in the 1st quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 378,693 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Price Performance

Shares of ING Group stock opened at $24.05 on Thursday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $20.76. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.11. The firm has a market cap of $75.68 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14.

ING Group (NYSE:ING) last issued its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. As a group, research analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.4002 per share. This represents a dividend yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group’s payout ratio is 31.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ING shares. Cfra Research upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About ING Group

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.