Wedmont Private Capital Has $208,000 Stock Position in ING Groep (NYSE:ING)

Wedmont Private Capital grew its holdings in shares of ING Groep (NYSE:ING) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,415 shares of the financial services provider’s stock after purchasing an additional 693 shares during the period. Wedmont Private Capital’s holdings in ING Groep were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ING. Northern Trust Corp lifted its holdings in shares of ING Groep by 48.2% during the 4th quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider’s stock worth $65,205,000 after acquiring an additional 1,353,054 shares during the period. Royal Bank of Canada raised its stake in shares of ING Groep by 0.8% during the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider’s stock valued at $61,844,000 after acquiring an additional 31,963 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of ING Groep by 2.3% during the fourth quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider’s stock valued at $52,989,000 after acquiring an additional 74,771 shares during the last quarter. Todd Asset Management LLC raised its stake in shares of ING Groep by 1.6% during the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after acquiring an additional 42,851 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of ING Groep by 7.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,774,430 shares of the financial services provider’s stock worth $27,806,000 after buying an additional 121,620 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

ING has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded shares of ING Groep from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Cfra Research upgraded shares of ING Groep from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ING Groep currently has a consensus rating of “Moderate Buy”.

ING Groep Stock Up 0.9%

ING Groep stock opened at $21.17 on Friday. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $21.76. The stock has a market cap of $74.06 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 6.42 and a beta of 1.13. The firm’s 50-day simple moving average is $20.04 and its 200 day simple moving average is $18.13. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

ING Groep (NYSE:ING) last released its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Research analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a dividend of $0.6526 per share. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, April 25th. ING Groep’s dividend payout ratio is presently 64.45%.

ING Groep Company Profile

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.