Legacy Financial Advisors Inc. Acquires 812 Shares of ING Groep (NYSE:ING)

Legacy Financial Advisors Inc. raised its holdings in ING Groep (NYSE:ING) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,626 shares of the financial services provider’s stock after acquiring an additional 812 shares during the period. Legacy Financial Advisors Inc.’s holdings in ING Groep were worth $405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC boosted its stake in shares of ING Groep by 4.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 13,414 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 602 shares in the last quarter. Gallacher Capital Management LLC boosted its position in ING Groep by 2.8% in the first quarter. Gallacher Capital Management LLC now owns 21,892 shares of the financial services provider’s stock valued at $361,000 after buying an additional 604 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of ING Groep by 3.8% during the second quarter. Checchi Capital Advisers LLC now owns 17,500 shares of the financial services provider’s stock worth $300,000 after buying an additional 637 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of ING Groep by 1.2% during the second quarter. Pzena Investment Management LLC now owns 53,810 shares of the financial services provider’s stock worth $922,000 after buying an additional 640 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted 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 acquiring an additional 662 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Performance

ING Groep stock opened at $18.66 on Friday. The business has a 50 day moving average of $17.81 and a 200-day moving average of $17.16. The company has a market capitalization of $65.28 billion, a P/E ratio of 8.26 and a beta of 1.52. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $6.15 billion during 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 posted $0.65 earnings per share. On average, equities research analysts predict that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

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

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.