TD Private Client Wealth LLC Buys 2,603 Shares of ING Group, N.V. $ING

TD Private Client Wealth LLC raised its stake in shares of ING Group, N.V. (NYSE:ING) by 43.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,560 shares of the financial services provider’s stock after buying an additional 2,603 shares during the period. TD Private Client Wealth LLC’s holdings in ING Group were worth $187,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Legacy Advisors LLC bought a new position in shares of ING Group in the first quarter worth about $28,000. SBI Securities Co. Ltd. increased its stake in shares of ING Group by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 912 shares during the period. Maseco LLP bought a new position in shares of ING Group in the second quarter worth about $48,000. Olde Wealth Management LLC bought a new position in shares of ING Group in the first quarter worth about $55,000. Finally, MAI Capital Management increased its stake in shares of ING Group by 23.1% in the first quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 785 shares during the period. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Up 1.5%

Shares of ING opened at $25.98 on Monday. The company has a market capitalization of $81.77 billion, a P/E ratio of 11.97, a PEG ratio of 1.87 and a beta of 1.10. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. ING Group, N.V. has a one year low of $15.09 and a one year high of $26.02. The business’s 50 day simple moving average is $24.39 and its 200-day simple moving average is $21.85.

ING Group (NYSE:ING) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, sell-side analysts predict 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 issued a $0.4002 dividend. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group’s payout ratio is presently 31.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ING. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday. Finally, Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ING Group 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.