Evergreen Capital Management LLC Grows Stock Position in ING Group, N.V. $ING

Evergreen Capital Management LLC raised its position in ING Group, N.V. (NYSE:ING) by 13.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,217 shares of the financial services provider’s stock after purchasing an additional 4,701 shares during the quarter. Evergreen Capital Management LLC’s holdings in ING Group were worth $788,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in shares of ING Group in the 1st quarter worth about $28,000. SBI Securities Co. Ltd. raised its holdings in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 912 shares during the period. Redwood Investments LLC purchased a new position in shares of ING Group in the 4th quarter worth about $41,000. Olde Wealth Management LLC purchased a new position in shares of ING Group in the 1st quarter worth about $55,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 897 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Stock Performance

Shares of NYSE:ING opened at $23.85 on Monday. The company has a market cap of $75.05 billion, a P/E ratio of 10.99, a PEG ratio of 1.71 and a beta of 1.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a one year low of $15.09 and a one year high of $25.11. The business’s 50-day simple moving average is $23.30 and its 200 day simple moving average is $20.92.

ING Group (NYSE:ING) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. On average, sell-side analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group’s dividend payout ratio (DPR) is 31.34%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ING. Cfra Research upgraded ING Group from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, ING Group has a consensus rating of “Moderate Buy”.

ING Group 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.