Verdence Capital Advisors LLC Makes New Investment in ING Groep (NYSE:ING)

Verdence Capital Advisors LLC acquired a new stake in shares of ING Groep (NYSE:ING) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,783 shares of the financial services provider’s stock, valued at approximately $733,000.

A number of other institutional investors also recently modified their holdings of the company. Contravisory Investment Management Inc. boosted its position in shares of ING Groep by 5.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 12,992 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 725 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of ING Groep by 6.9% during the 3rd quarter. PDS Planning Inc now owns 12,404 shares of the financial services provider’s stock valued at $163,000 after buying an additional 800 shares in the last quarter. Franklin Resources Inc. grew its position in shares of ING Groep by 0.3% in the 1st quarter. Franklin Resources Inc. now owns 260,481 shares of the financial services provider’s stock worth $3,092,000 after buying an additional 836 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of ING Groep by 6.5% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 14,494 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 890 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of ING Groep by 2.4% in the 3rd quarter. Ballentine Partners LLC now owns 38,102 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 892 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Trading Up 1.0 %

NYSE:ING opened at $16.20 on Monday. The firm has a market capitalization of $60.37 billion, a P/E ratio of 7.33 and a beta of 1.58. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.12 and a quick ratio of 1.12. ING Groep has a one year low of $11.78 and a one year high of $17.18. The company’s 50-day simple moving average is $15.16 and its 200 day simple moving average is $14.31.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). ING Groep had a return on equity of 13.36% and a net margin of 32.29%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $6.15 billion. As a group, analysts forecast that ING Groep will post 1.91 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, April 25th will be paid a $0.697 dividend. This represents a dividend yield of 6.8%. The ex-dividend date is Wednesday, April 24th. This is an increase from ING Groep’s previous Semi-Annual dividend of $0.43. ING Groep’s dividend payout ratio is currently 31.22%.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.