OLD National Bancorp IN Has $280,000 Stake in ING Groep (NYSE:ING)

OLD National Bancorp IN increased its holdings in shares of ING Groep (NYSE:ING) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,882 shares of the financial services provider’s stock after acquiring an additional 2,369 shares during the quarter. OLD National Bancorp IN’s holdings in ING Groep were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of ING Groep by 61.6% in the second quarter. AQR Capital Management LLC now owns 26,644 shares of the financial services provider’s stock worth $457,000 after buying an additional 10,153 shares in the last quarter. NewEdge Advisors LLC boosted its position in ING Groep by 729.6% during the 2nd quarter. NewEdge Advisors LLC now owns 94,971 shares of the financial services provider’s stock valued at $1,628,000 after acquiring an additional 83,523 shares in the last quarter. Cetera Investment Advisers lifted its position in ING Groep by 21.0% during the 2nd quarter. Cetera Investment Advisers now owns 126,238 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 21,947 shares during the period. Sanctuary Advisors LLC bought a new position in shares of ING Groep during the second quarter valued at $1,473,000. Finally, GAMMA Investing LLC raised its holdings in ING Groep by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,214 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 2,213 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ING shares. Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

ING Groep Stock Performance

Shares of ING opened at $16.57 on Monday. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $57.95 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 6.24 and a beta of 1.47. The business has a 50-day simple moving average of $15.84 and a two-hundred day simple moving average of $16.84.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. The business had revenue of $6.49 billion during the quarter. ING Groep had a net margin of 30.06% and a return on equity of 12.49%. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, analysts expect that ING Groep will post 2.09 EPS for the current year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were paid a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is presently 29.15%.

About ING Groep

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.