Truist Financial Corp Has $3.37 Million Stake in ING Groep (NYSE:ING)

Truist Financial Corp cut its position in shares of ING Groep (NYSE:ING) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,851 shares of the financial services provider’s stock after selling 23,968 shares during the quarter. Truist Financial Corp’s holdings in ING Groep were worth $3,374,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC increased its position in ING Groep by 8.5% in the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock valued at $956,435,000 after buying an additional 4,995,615 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ING Groep by 7.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after acquiring an additional 622,037 shares in the last quarter. Bank of New York Mellon Corp grew its stake in ING Groep by 150.1% in the second quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after acquiring an additional 359,535 shares during the period. Acadian Asset Management LLC acquired a new position in shares of ING Groep during the second quarter worth approximately $4,626,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of ING Groep by 17.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock worth $27,962,000 after purchasing an additional 257,440 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

NYSE ING opened at $17.64 on Wednesday. The company has a market cap of $61.71 billion, a P/E ratio of 7.81 and a beta of 1.52. The company has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $17.39. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.72.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The firm had revenue of $6.15 billion during the quarter. During the same quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts predict that ING Groep will post 2.04 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a $0.8143 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend 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 currently 28.32%.

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.