NewEdge Advisors LLC Has $1.63 Million Stock Position in ING Groep (NYSE:ING)

NewEdge Advisors LLC increased its position in shares of ING Groep (NYSE:ING) by 729.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,971 shares of the financial services provider’s stock after acquiring an additional 83,523 shares during the quarter. NewEdge Advisors LLC’s holdings in ING Groep were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ING. Sei Investments Co. lifted its position in ING Groep by 14.0% during the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares during the period. Capital Research Global Investors lifted its holdings in ING Groep by 51.2% in the first quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock valued at $3,360,000 after buying an additional 68,966 shares during the period. Confluence Investment Management LLC acquired a new position in ING Groep in the first quarter valued at approximately $807,000. Lighthouse Investment Partners LLC bought a new position in ING Groep in the fourth quarter valued at approximately $1,402,000. Finally, Goldman Sachs Group Inc. grew its holdings in ING Groep by 7.8% during the 4th 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 during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

ING stock opened at $17.66 on Friday. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.72. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. The company has a market cap of $61.78 billion, a P/E ratio of 7.81 and a beta of 1.52. The business’s fifty day moving average is $17.74 and its 200-day moving average is $17.36.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The firm 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 in the previous year, the company posted $0.65 EPS. Equities research analysts forecast that ING Groep will post 2.04 EPS for the current year.

ING Groep Increases Dividend

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

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.