Allspring Global Investments Holdings LLC Has $11.82 Million Holdings in ING Group, N.V. $ING

Allspring Global Investments Holdings LLC boosted its position in shares of ING Group, N.V. (NYSE:ING) by 885.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,022 shares of the financial services provider’s stock after acquiring an additional 369,310 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ING Group were worth $11,821,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Abound Wealth Management grew its position in shares of ING Group by 2,757.6% in the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 910 shares during the last quarter. Binnacle Investments Inc lifted its position in shares of ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 395 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in ING Group by 2,440.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,196 shares during the period. Root Financial Partners LLC bought a new stake in ING Group during the 3rd quarter valued at approximately $34,000. Finally, Rexford Capital Inc. acquired a new stake in ING Group in the 2nd quarter valued at approximately $33,000. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Down 0.0%

ING opened at $26.56 on Monday. The firm has a market cap of $77.28 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.87 and a beta of 0.80. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day simple moving average is $27.89 and its 200-day simple moving average is $26.88. ING Group, N.V. has a twelve month low of $16.47 and a twelve month high of $31.17.

ING Group (NYSE:ING) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a net margin of 27.50% and a return on equity of 12.05%. Equities research analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ING shares. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Jefferies Financial Group began coverage on shares of ING Group in a research note on Tuesday, January 27th. They set a “hold” rating for the company. Finally, Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, ING Group has an average rating of “Moderate Buy”.

ING Group Profile

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.