Choreo LLC Takes $655,000 Position in ING Groep (NYSE:ING)

Choreo LLC bought a new stake in ING Groep (NYSE:ING) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 37,397 shares of the financial services provider’s stock, valued at approximately $655,000.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. raised its stake in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of ING Groep in the 4th quarter valued at about $28,000. Summit Securities Group LLC acquired a new stake in ING Groep during the second quarter worth about $31,000. Rothschild Investment LLC acquired a new stake in ING Groep during the second quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ING Groep during the second quarter worth about $38,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Price Performance

ING opened at $18.24 on Friday. The firm has a market cap of $63.81 billion, a price-to-earnings ratio of 8.07 and a beta of 1.52. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66. The company’s 50-day moving average price is $17.78 and its 200 day moving average price is $17.01. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The firm had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter last year, the company earned $0.65 EPS. As a group, sell-side analysts expect that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a $0.8143 dividend. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. ING Groep’s dividend payout ratio is 28.32%.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

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.