AlphaCore Capital LLC Raises Holdings in ING Group, N.V. $ING

AlphaCore Capital LLC boosted its position in ING Group, N.V. (NYSE:ING) by 527.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,806 shares of the financial services provider’s stock after acquiring an additional 33,459 shares during the quarter. AlphaCore Capital LLC’s holdings in ING Group were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ING. Thornburg Investment Management Inc. raised its holdings in shares of ING Group by 2.2% in the 3rd quarter. Thornburg Investment Management Inc. now owns 546,389 shares of the financial services provider’s stock worth $14,250,000 after purchasing an additional 11,538 shares during the period. US Bancorp DE grew its holdings in shares of ING Group by 36.2% during the 3rd quarter. US Bancorp DE now owns 381,002 shares of the financial services provider’s stock worth $9,937,000 after purchasing an additional 101,364 shares during the period. Parr Mcknight Wealth Management Group LLC increased its position in ING Group by 5.3% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 9,678 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 485 shares in the last quarter. Compound Planning Inc. increased its position in ING Group by 16.3% during the 3rd quarter. Compound Planning Inc. now owns 52,562 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 7,381 shares in the last quarter. Finally, Legacy Financial Advisors Inc. purchased a new position in ING Group in the third quarter valued at approximately $533,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ING shares. Zacks Research upgraded shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

ING Group Price Performance

Shares of NYSE ING opened at $28.75 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. ING Group, N.V. has a fifty-two week low of $16.47 and a fifty-two week high of $31.17. The business has a 50 day moving average price of $29.05 and a two-hundred day moving average price of $26.58. The firm has a market cap of $83.66 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.

ING Group (NYSE:ING) last released its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $6.67 billion. Sell-side analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Dividend Announcement

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

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.