Wealth Enhancement Advisory Services LLC Has $1.96 Million Position in ING Group, N.V. $ING

Wealth Enhancement Advisory Services LLC boosted its position in ING Group, N.V. (NYSE:ING) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,931 shares of the financial services provider’s stock after purchasing an additional 2,423 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ING Group were worth $1,956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Advisors LLC acquired a new stake in shares of ING Group in the first quarter valued at 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 valued at $31,000 after buying an additional 912 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of ING Group in the first quarter valued at about $55,000. 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 valued at $82,000 after buying an additional 785 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of 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 valued at $100,000 after buying an additional 897 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ING has been the subject of several recent research reports. Barclays raised ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Cfra Research raised ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday. Finally, Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, ING Group presently has a consensus rating of “Buy”.

ING Group Stock Up 1.5%

Shares of NYSE:ING opened at $25.98 on Monday. The business’s 50 day simple moving average is $24.39 and its two-hundred day simple moving average is $21.85. The firm has a market cap 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 quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $26.02.

ING Group (NYSE:ING) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (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 analyst estimates of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

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.