Thoroughbred Financial Services LLC Makes New Investment in ING Groep (NYSE:ING)

Thoroughbred Financial Services LLC acquired a new stake in shares of ING Groep (NYSE:ING) during the second quarter, according to its most recent filing with the SEC. The fund acquired 11,898 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in shares of ING Groep by 9.9% during the fourth quarter. Russell Investments Group Ltd. now owns 11,073 shares of the financial services provider’s stock valued at $166,000 after buying an additional 1,001 shares during the period. Janney Montgomery Scott LLC lifted its stake in ING Groep by 85.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 69,174 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 31,848 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ING Groep by 8.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 97,975 shares of the financial services provider’s stock valued at $1,472,000 after buying an additional 7,353 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in ING Groep in the fourth quarter worth approximately $171,000. Finally, Wells Fargo & Company MN grew its position in ING Groep by 96.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock valued at $20,021,000 after acquiring an additional 655,011 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Up 0.9 %

ING opened at $18.40 on Thursday. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.66. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The business’s 50-day moving average price is $17.80 and its 200-day moving average price is $17.10. The company has a market cap of $64.37 billion, a P/E ratio of 8.14 and a beta of 1.52.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same period last year, the firm earned $0.65 earnings per share. On average, equities analysts expect that ING Groep will post 2.02 EPS for the current year.

ING Groep Increases Dividend

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

Analyst Ratings Changes

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

ING Groep 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.