LPL Financial LLC Acquires 7,098 Shares of ING Groep (NYSE:ING)

LPL Financial LLC raised its position in shares of ING Groep (NYSE:ING – Get Rating) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 214,456 shares of the financial services provider’s stock after acquiring an additional 7,098 shares during the quarter. LPL Financial LLC’s holdings in ING Groep were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MML Investors Services LLC increased its stake in ING Groep by 9.0% in the third quarter. MML Investors Services LLC now owns 46,836 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 3,860 shares during the last quarter. Intrust Bank NA raised its holdings in ING Groep by 17.8% in the 3rd quarter. Intrust Bank NA now owns 45,982 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 6,946 shares during the last quarter. Janney Montgomery Scott LLC grew its position in ING Groep by 4.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 67,021 shares of the financial services provider’s stock worth $816,000 after purchasing an additional 3,013 shares during the period. Vestmark Advisory Solutions Inc. grew its position in ING Groep by 5.1% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 90,941 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 4,450 shares during the period. Finally, Edgestream Partners L.P. grew its position in shares of ING Groep by 88.1% during the 3rd quarter. Edgestream Partners L.P. now owns 120,524 shares of the financial services provider’s stock valued at $1,024,000 after acquiring an additional 56,455 shares during the period. 3.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ING. StockNews.com began coverage on ING Groep in a research note on Thursday. They issued a “hold” rating for the company. Societe Generale downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ING Groep currently has a consensus rating of “Moderate Buy” and an average price target of $14.03.

ING Groep Stock Performance

NYSE:ING opened at $13.01 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.25 and a beta of 1.56. The company’s 50-day moving average is $12.34 and its two-hundred day moving average is $12.63. ING Groep has a 1-year low of $8.14 and a 1-year high of $14.72.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 12th. Investors of record on Thursday, April 27th were paid a dividend of $0.4101 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.07. This represents a yield of 4.6%. The ex-dividend date was Wednesday, April 26th. ING Groep’s dividend payout ratio is presently 52.55%.

ING Groep Company Profile

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ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.