MQS Management LLC Takes $395,000 Position in ING Groep (NYSE:ING)

MQS Management LLC purchased a new position in ING Groep (NYSE:ING) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,022 shares of the financial services provider’s stock, valued at approximately $395,000.

Several other hedge funds have also recently made changes to their positions in ING. Financial Management Professionals Inc. increased its position in 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 valued at $27,000 after acquiring an additional 662 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of ING Groep during the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in shares of ING Groep during the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in shares of ING Groep during the 2nd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ING Groep in the 2nd quarter worth approximately $38,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Trading Up 1.2 %

Shares of ING stock opened at $18.63 on Friday. 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 stock has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $17.11. The firm has a market capitalization of $65.15 billion, a PE ratio of 8.24 and a beta of 1.52. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.66.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS 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 period last year, the firm posted $0.65 EPS. On average, analysts predict that ING Groep will post 2.02 EPS for the current fiscal year.

ING Groep Increases Dividend

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

Analysts Set New Price Targets

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research report 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.