Caprock Group LLC Purchases New Position in ING Group, N.V. $ING

Caprock Group LLC acquired a new position in shares of ING Group, N.V. (NYSE:ING) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,024 shares of the financial services provider’s stock, valued at approximately $1,573,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of ING Group during the third quarter valued at $451,000. Capital Fund Management S.A. increased its holdings in ING Group by 14.7% in the second quarter. Capital Fund Management S.A. now owns 612,511 shares of the financial services provider’s stock valued at $13,396,000 after purchasing an additional 78,622 shares during the period. Envestnet Asset Management Inc. lifted its holdings in ING Group by 4.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock worth $51,918,000 after buying an additional 82,340 shares during the period. Bank of New York Mellon Corp lifted its holdings in ING Group by 64.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock worth $10,233,000 after buying an additional 183,891 shares during the period. Finally, Logan Capital Management Inc. grew its position in shares of ING Group by 11.0% in the 2nd quarter. Logan Capital Management Inc. now owns 220,820 shares of the financial services provider’s stock valued at $4,829,000 after buying an additional 21,853 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Trading Down 1.8%

NYSE:ING opened at $28.31 on Friday. ING Group, N.V. has a 12 month low of $16.47 and a 12 month high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $82.38 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.94 and a beta of 0.80. The firm has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $26.19.

ING Group (NYSE:ING) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. ING Group had a net margin of 27.50% and a return on equity of 12.26%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a dividend of $0.8796 per share. The ex-dividend date is Friday, April 17th. This represents a dividend yield of 589.0%. ING Group’s payout ratio is currently 28.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ING shares. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods lowered shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Jefferies Financial Group started coverage on shares of ING Group in a research note on Tuesday, January 27th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, ING Group has a consensus rating of “Buy”.

About ING Group

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.