Truist Financial Corp Raises Stock Holdings in ING Groep (NYSE:ING)

Truist Financial Corp raised its position in shares of ING Groep (NYSE:INGGet Rating) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,727 shares of the financial services provider’s stock after acquiring an additional 16,682 shares during the period. Truist Financial Corp’s holdings in ING Groep were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ING. Cambiar Investors LLC raised its holdings in shares of ING Groep by 821.9% during the 2nd quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock worth $32,492,000 after acquiring an additional 2,920,134 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in ING Groep by 4,412.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after buying an additional 1,782,900 shares during the period. Goldman Sachs Group Inc. raised its holdings in ING Groep by 27.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after buying an additional 1,673,262 shares during the period. FMR LLC raised its holdings in ING Groep by 29.8% during the 2nd quarter. FMR LLC now owns 4,621,059 shares of the financial services provider’s stock valued at $45,841,000 after buying an additional 1,060,586 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in ING Groep during the 1st quarter valued at $9,905,000. 3.99% of the stock is owned by hedge funds and other institutional investors.

ING Groep Trading Up 0.6 %

ING opened at $13.70 on Monday. ING Groep has a 12-month low of $8.14 and a 12-month high of $15.97. The business’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $10.29. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.62 and a beta of 1.57.

ING Groep (NYSE:INGGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). ING Groep had a return on equity of 6.29% and a net margin of 19.14%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.30 billion. On average, equities research analysts predict that ING Groep will post 1 EPS for the current year.

ING Groep Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, January 23rd. Investors of record on Tuesday, January 17th will be paid a dividend of $0.074 per share. This represents a dividend yield of 4.6%. The ex-dividend date is Friday, January 13th. ING Groep’s dividend payout ratio (DPR) is currently 28.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Credit Suisse Group increased their price target on ING Groep from €13.50 ($14.52) to €14.00 ($15.05) and gave the company an “outperform” rating in a report on Friday, September 30th. Deutsche Bank Aktiengesellschaft upped their price objective on ING Groep from €15.00 ($16.13) to €16.00 ($17.20) in a research report on Wednesday, November 9th. Royal Bank of Canada upped their price objective on ING Groep from €11.75 ($12.63) to €13.00 ($13.98) and gave the company a “sector perform” rating in a research report on Monday, November 7th. StockNews.com started coverage on ING Groep in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Societe Generale cut their price objective on ING Groep from €14.00 ($15.05) to €12.50 ($13.44) in a research report on Friday, November 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.91.

ING Groep Company Profile

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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