Raymond James & Associates Grows Position in ING Groep (NYSE:ING)

Raymond James & Associates lifted its holdings in shares of ING Groep (NYSE:ING – Get Rating) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418,556 shares of the financial services provider’s stock after purchasing an additional 13,965 shares during the quarter. Raymond James & Associates’ holdings in ING Groep were worth $5,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ronald Blue Trust Inc. raised its position in ING Groep by 76.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 3,905 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,689 shares in the last quarter. My Personal CFO LLC acquired a new stake in ING Groep in the 4th quarter valued at about $43,000. CWM LLC raised its position in ING Groep by 30.7% in the 4th quarter. CWM LLC now owns 6,588 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 1,548 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in ING Groep in the 3rd quarter valued at about $90,000. Finally, Kistler Tiffany Companies LLC raised its position in shares of ING Groep by 12.2% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 10,996 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 1,200 shares in the last quarter. 3.99% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Stock Performance

Shares of NYSE:ING opened at $13.03 on Tuesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.09 and a quick ratio of 1.09. ING Groep has a 12 month low of $8.14 and a 12 month high of $14.72. The firm has a market capitalization of $48.56 billion, a PE ratio of 9.51, a P/E/G ratio of 0.25 and a beta of 1.56. The business has a 50-day moving average of $12.35 and a two-hundred day moving average of $12.67.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 12th. Stockholders of record on Thursday, April 27th were paid a $0.4101 dividend. The ex-dividend date was Wednesday, April 26th. This represents a dividend yield of 4.6%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.07. ING Groep’s dividend payout ratio (DPR) is 53.28%.

Analyst Upgrades and Downgrades

ING has been the subject of a number of research reports. StockNews.com initiated coverage on ING Groep in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Societe Generale cut ING Groep from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, ING Groep presently has an average rating of “Moderate Buy” and an average price target of $14.03.

ING Groep 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.