Advisory Services Network LLC increased its position in shares of ING Groep NV (NYSE:ING) by 63.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,896 shares of the financial services provider’s stock after purchasing an additional 12,425 shares during the period. Advisory Services Network LLC’s holdings in ING Groep were worth $589,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of ING. Zions Bancorporation grew its stake in shares of ING Groep by 1,021.8% during the third quarter. Zions Bancorporation now owns 7,011 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 6,386 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in ING Groep in the third quarter valued at $156,000. Diligent Investors LLC acquired a new position in ING Groep in the third quarter valued at $190,000. Cambridge Investment Research Advisors Inc. acquired a new position in ING Groep in the third quarter valued at $190,000. Finally, Glovista Investments LLC acquired a new position in ING Groep in the third quarter valued at $217,000. Hedge funds and other institutional investors own 3.23% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of ING Groep from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, January 16th. UBS Group restated a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. ValuEngine upgraded shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Goldman Sachs Group restated a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. ING Groep currently has an average rating of “Buy” and an average price target of $18.00.
ING Groep (NYSE:ING) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $0.31 earnings per share for the quarter. ING Groep had a net margin of 27.70% and a return on equity of 10.22%. The business had revenue of $5.14 billion during the quarter. sell-side analysts forecast that ING Groep NV will post 1.8 earnings per share for the current fiscal year.
The firm also recently announced a semiannual dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, April 26th will be paid a dividend of $0.5344 per share. This is an increase from ING Groep’s previous semiannual dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 25th. This represents a dividend yield of 5.77%. ING Groep’s dividend payout ratio is 39.10%.
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ING Groep Company Profile
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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