Vontobel Holding Ltd. Takes $206,000 Position in ING Group, N.V. $ING

Vontobel Holding Ltd. purchased a new position in shares of ING Group, N.V. (NYSE:ING) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,440 shares of the financial services provider’s stock, valued at approximately $206,000.

Other institutional investors have also modified their holdings of the company. Legacy Advisors LLC acquired a new stake in ING Group during the 1st quarter worth $28,000. SBI Securities Co. Ltd. grew its holdings in shares of ING Group by 135.3% during 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 last quarter. V Square Quantitative Management LLC purchased a new position in shares of ING Group during the second quarter worth about $37,000. Maseco LLP purchased a new position in shares of ING Group during the second quarter worth about $48,000. Finally, Olde Wealth Management LLC purchased a new position in shares of ING Group during the first quarter worth about $55,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Group Stock Down 0.9%

ING stock opened at $24.35 on Thursday. ING Group, N.V. has a one year low of $15.09 and a one year high of $26.27. The stock has a market capitalization of $76.62 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. 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 company has a fifty day moving average of $24.83 and a 200-day moving average of $22.26.

ING Group (NYSE:ING) last posted 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 firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ING shares. Barclays raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Weiss Ratings cut ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Finally, Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.