Rhumbline Advisers Acquires 3,421 Shares of ING Group, N.V. $ING

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Advisors LLC bought a new stake in ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its holdings in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock worth $31,000 after buying an additional 912 shares during the period. Olde Wealth Management LLC bought a new stake in ING Group during the first quarter valued at $55,000. MAI Capital Management lifted its position in shares of ING Group by 23.1% during the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 785 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 897 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Trading Down 0.0%

Shares of NYSE:ING opened at $25.33 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The stock has a 50 day moving average of $24.03 and a 200 day moving average of $21.58. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.81. The company has a market cap of $79.72 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10.

ING Group (NYSE:ING) last announced 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 the consensus estimate of $6.40 billion. As a group, equities research analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group’s dividend payout ratio (DPR) is presently 31.80%.

Analysts Set New Price Targets

Several analysts have recently commented on ING shares. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company 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.