Arista Wealth Management LLC Acquires Shares of 22,686 ING Group, N.V. $ING

Key Points

• Arista Wealth Management LLC acquired a stake of 22,686 shares in ING Group, N.V. valued at approximately $496,000 during the 2nd quarter.
• ING Group reported an earnings per share of $0.64 for the last quarter, surpassing analyst expectations of $0.59, with a revenue of $6.55 billion.
• The company recently announced a semi-annual dividend of $0.4002 per share, translating to a significant yield of 450.0%, despite a payout ratio of 31.80%.

Arista Wealth Management LLC acquired a new stake in shares of ING Group, N.V. (NYSE:ING - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,686 shares of the financial services provider's stock, valued at approximately $496,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of ING Group by 68.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock worth $931,000 after purchasing an additional 19,332 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of ING Group in the first quarter worth approximately $126,000. FORA Capital LLC bought a new stake in ING Group in the first quarter valued at $302,000. PNC Financial Services Group Inc. boosted its holdings in ING Group by 14.7% in the first quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider's stock valued at $2,038,000 after acquiring an additional 13,304 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in ING Group in the first quarter valued at $274,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Price Performance

ING opened at $24.09 on Friday. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $26.27. 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 business's fifty day simple moving average is $24.83 and its 200-day simple moving average is $22.33. The company has a market capitalization of $75.81 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.75 and a beta of 1.07.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. On average, equities research analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's dividend payout ratio (DPR) is 31.80%.

Wall Street Analysts Forecast Growth

ING has been the subject of several recent research reports. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Cfra Research upgraded ING Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, September 25th. Finally, Weiss Ratings cut ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

ING Group 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.

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