Blue Trust Inc. Increases Stake in ING Groep (NYSE:ING)

Blue Trust Inc. raised its holdings in shares of ING Groep (NYSE:ING) by 345.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,336 shares of the financial services provider’s stock after purchasing an additional 16,548 shares during the quarter. Blue Trust Inc.’s holdings in ING Groep were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ING. B. Riley Wealth Advisors Inc. purchased a new stake in shares of ING Groep during the 4th quarter valued at approximately $160,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of ING Groep by 8.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,682 shares of the financial services provider’s stock worth $1,594,000 after acquiring an additional 7,209 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 662 shares in the last quarter. Galibier Capital Management Ltd. boosted its holdings in shares of ING Groep by 58.4% in the first quarter. Galibier Capital Management Ltd. now owns 92,208 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 34,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of ING Groep by 131.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,844 shares of the financial services provider’s stock valued at $1,168,000 after purchasing an additional 40,208 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

NYSE:ING opened at $16.73 on Thursday. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.72. The stock has a fifty day moving average of $17.78 and a 200 day moving average of $17.45. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95. The firm has a market capitalization of $58.52 billion, a price-to-earnings ratio of 7.40 and a beta of 1.52.

ING Groep (NYSE:ING) last issued 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 return on equity of 12.65% and a net margin of 30.60%. During the same quarter last year, the business posted $0.65 EPS. On average, research analysts expect that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently declared 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 is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 5.9%. ING Groep’s dividend payout ratio is presently 28.32%.

Wall Street Analyst Weigh In

Several brokerages have commented on ING. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup raised shares of ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

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.