ABC Arbitrage SA Buys 664,063 Shares of ING Group, N.V. $ING

ABC Arbitrage SA grew its position in shares of ING Group, N.V. (NYSE:ING) by 280.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 900,936 shares of the financial services provider’s stock after purchasing an additional 664,063 shares during the quarter. ING Group comprises approximately 2.3% of ABC Arbitrage SA’s investment portfolio, making the stock its 13th largest position. ABC Arbitrage SA’s holdings in ING Group were worth $23,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthstream Advisors Inc. bought a new position in shares of ING Group in the 3rd quarter worth about $262,000. Prospera Financial Services Inc increased its holdings in ING Group by 3.6% in the third quarter. Prospera Financial Services Inc now owns 14,703 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 516 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in ING Group in the third quarter valued at approximately $223,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of ING Group by 7.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 109,466 shares of the financial services provider’s stock worth $2,855,000 after buying an additional 7,671 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of ING Group by 28.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 35,656 shares of the financial services provider’s stock worth $928,000 after buying an additional 7,929 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Jefferies Financial Group initiated coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Citigroup raised ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Finally, Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

ING Group Price Performance

Shares of NYSE ING opened at $30.93 on Wednesday. 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 firm has a market cap of $90.02 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. ING Group, N.V. has a 1-year low of $16.44 and a 1-year high of $31.17. The stock has a fifty day simple moving average of $28.51 and a two-hundred day simple moving average of $26.11.

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

ING Group Dividend Announcement

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

ING Group Company 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.