Cubist Systematic Strategies LLC Takes Position in ING Groep (NYSE:ING)

Cubist Systematic Strategies LLC bought a new position in ING Groep (NYSE:ING - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 115,357 shares of the financial services provider's stock, valued at approximately $1,808,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ING. Park Avenue Securities LLC boosted its holdings in shares of ING Groep by 24.5% during the fourth quarter. Park Avenue Securities LLC now owns 32,703 shares of the financial services provider's stock worth $512,000 after purchasing an additional 6,427 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ING Groep by 31.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 154,894 shares of the financial services provider's stock worth $2,427,000 after purchasing an additional 36,657 shares during the period. Brooklyn Investment Group boosted its holdings in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,207 shares during the period. Galibier Capital Management Ltd. boosted its holdings in shares of ING Groep by 15.2% during the fourth quarter. Galibier Capital Management Ltd. now owns 106,208 shares of the financial services provider's stock worth $1,664,000 after purchasing an additional 14,000 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in shares of ING Groep during the fourth quarter worth approximately $177,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Cfra Research upgraded shares of ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

ING Groep Stock Up 0.4%

NYSE ING traded up $0.08 during trading on Friday, reaching $21.18. The company's stock had a trading volume of 1,607,519 shares, compared to its average volume of 2,268,026. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $74.07 billion, a PE ratio of 9.89, a PEG ratio of 6.42 and a beta of 1.15. The business has a 50-day moving average price of $19.44 and a 200-day moving average price of $17.46. ING Groep has a 1-year low of $15.09 and a 1-year high of $21.22.

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

ING Groep Increases Dividend

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

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.