Bridgefront Capital LLC Makes New Investment in ING Groep (NYSE:ING)

Bridgefront Capital LLC acquired a new stake in ING Groep (NYSE:ING - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,563 shares of the financial services provider's stock, valued at approximately $197,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ING. Huntington National Bank increased its holdings in shares of ING Groep by 1.7% in the fourth quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock valued at $549,000 after purchasing an additional 597 shares during the period. IFP Advisors Inc grew its holdings in ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after acquiring an additional 621 shares during the period. SRS Capital Advisors Inc. grew its holdings in ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after acquiring an additional 665 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in ING Groep by 1.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock worth $651,000 after acquiring an additional 716 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in ING Groep by 5.2% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock worth $229,000 after acquiring an additional 722 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Groep Price Performance

ING traded up $0.06 during trading on Tuesday, reaching $20.79. 1,733,978 shares of the stock were exchanged, compared to its average volume of 2,269,117. The business's 50 day moving average price is $19.37 and its two-hundred day moving average price is $17.34. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $72.73 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 6.42 and a beta of 1.15. ING Groep has a 1 year low of $15.09 and a 1 year high of $20.84.

ING Groep (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. As a group, equities research analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.6526 per share. This represents a yield of 5.1%. The ex-dividend date of this dividend was Friday, April 25th. This is an increase from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio (DPR) is currently 64.45%.

Analysts Set New Price Targets

ING has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Cfra Research upgraded ING Groep from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

ING Groep Company 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.