Icon Advisers Inc. Co. acquired a new position in ING Groep (NYSE:ING – Free Report) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 144,100 shares of the financial services provider’s stock, valued at approximately $1,710,000.
Several other institutional investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. grew its position in ING Groep by 143.3% during the first quarter. Brown Brothers Harriman & Co. now owns 2,530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,490 shares during the last quarter. Zions Bancorporation N.A. grew its position in ING Groep by 48.4% during the fourth quarter. Zions Bancorporation N.A. now owns 2,873 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 937 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in ING Groep during the first quarter valued at approximately $41,000. Smithfield Trust Co bought a new position in ING Groep during the first quarter valued at approximately $42,000. Finally, BOKF NA bought a new position in ING Groep during the first quarter valued at approximately $52,000. 4.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on ING Groep in a research note on Thursday, August 17th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ING Groep presently has a consensus rating of “Moderate Buy” and an average target price of $14.39.
ING Groep Stock Down 1.1 %
ING traded down $0.15 during trading on Tuesday, reaching $13.92. The stock had a trading volume of 1,073,907 shares, compared to its average volume of 3,485,121. The stock’s 50 day moving average is $14.20 and its two-hundred day moving average is $13.28. The company has a current ratio of 0.94, a quick ratio of 1.09 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $51.87 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.16 and a beta of 1.59. ING Groep has a one year low of $8.14 and a one year high of $14.99.
ING Groep (NYSE:ING – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.19 billion. ING Groep had a return on equity of 10.32% and a net margin of 28.40%. As a group, analysts expect that ING Groep will post 2.3 earnings per share for the current year.
ING Groep Increases Dividend
The business also recently declared a semi-annual dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were issued a dividend of $0.4267 per share. The ex-dividend date was Friday, August 11th. This is an increase from ING Groep’s previous semi-annual dividend of $0.41. This represents a dividend yield of 5.2%. ING Groep’s dividend payout ratio (DPR) is presently 38.46%.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, 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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