ING Group, N.V. $ING Shares Acquired by Citigroup Inc.

Citigroup Inc. boosted its holdings in ING Group, N.V. (NYSE:ING) by 249.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,047,717 shares of the financial services provider’s stock after acquiring an additional 1,462,527 shares during the period. Citigroup Inc. owned 0.07% of ING Group worth $53,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of ING Group by 7.3% in the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after purchasing an additional 593,424 shares in the last quarter. Todd Asset Management LLC raised its position in shares of ING Group by 1.0% during the 3rd quarter. Todd Asset Management LLC now owns 2,795,403 shares of the financial services provider’s stock worth $72,904,000 after purchasing an additional 26,639 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in ING Group by 4.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock valued at $51,918,000 after buying an additional 82,340 shares in the last quarter. American Century Companies Inc. grew its holdings in ING Group by 10.4% during the 2nd quarter. American Century Companies Inc. now owns 1,408,301 shares of the financial services provider’s stock valued at $30,800,000 after buying an additional 132,184 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in ING Group by 25.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after buying an additional 264,858 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Price Performance

Shares of ING Group stock opened at $29.33 on Tuesday. The stock has a market capitalization of $85.37 billion, a P/E ratio of 12.27, a PEG ratio of 0.97 and a beta of 0.80. 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 business’s fifty day moving average price is $28.92 and its 200 day moving average price is $26.47. 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 released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. As a group, research analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ING shares. Wall Street Zen upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Citigroup upgraded shares of ING Group to a “strong-buy” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods lowered shares of ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Finally, Jefferies Financial Group began coverage on shares of ING Group in a research note on Tuesday, January 27th. They set a “hold” rating on the stock. 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 company’s stock. According to MarketBeat.com, the stock currently 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.