Zions Bancorporation National Association UT Takes $1.87 Million Position in ING Group, N.V. (NYSE:ING)

Key Points

• Zions Bancorporation National Association UT acquired 95,506 shares of ING Group, valued at approximately $1.87 million, signaling increased institutional interest in the company.
• ING Group recently reported $0.64 earnings per share, surpassing analyst expectations of $0.59, with a revenue of $6.55 billion for the quarter.
• The firm announced a semi-annual dividend of $0.4002 per share, representing a dividend yield of 450.0%.

Zions Bancorporation National Association UT acquired a new position in shares of ING Group, N.V. (NYSE:ING - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 95,506 shares of the financial services provider's stock, valued at approximately $1,871,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ING. Kestra Private Wealth Services LLC boosted its holdings in ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock worth $249,000 after buying an additional 530 shares during the period. Wedmont Private Capital increased its position in shares of ING Group by 6.5% in the first quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock valued at $208,000 after acquiring an additional 693 shares during the period. Drive Wealth Management LLC increased its position in shares of ING Group by 6.5% in the first quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider's stock valued at $227,000 after acquiring an additional 707 shares during the period. Janney Montgomery Scott LLC increased its position in shares of ING Group by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 786 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in shares of ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 897 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Stock Performance

ING stock traded up $0.11 during midday trading on Thursday, reaching $24.88. 1,391,610 shares of the company's stock traded hands, compared to its average volume of 2,762,130. The stock's 50-day moving average is $22.43 and its 200 day moving average is $20.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The stock has a market cap of $78.29 billion, a P/E ratio of 11.45, a PEG ratio of 1.76 and a beta of 1.14. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $24.89.

ING Group (NYSE:ING - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be issued a $0.4002 dividend. This represents a yield of 450.0%. The ex-dividend date of this dividend is Monday, August 11th. ING Group's payout ratio is presently 31.80%.

Analysts Set New Price Targets

ING has been the topic of a number of research reports. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

About ING Group

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.