ING Group, N.V. $ING Shares Acquired by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. increased its stake in ING Group, N.V. by 21.3%, acquiring an additional 93,743 shares, bringing its total holdings to 533,889 shares valued at approximately $10.46 million.
• Several institutional investors have recently boosted their positions in ING, with Allspring Global Investments increasing its stake by 68.7% and others like Massachusetts Financial Services raising theirs by 60% in the first quarter.
• ING Group reported a quarterly earnings of $0.64 per share, exceeding analysts’ expectations, and announced a semi-annual dividend of $0.4002 with a yield of 450.0% for investors of record.

Capital Fund Management S.A. boosted its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 21.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 533,889 shares of the financial services provider's stock after acquiring an additional 93,743 shares during the quarter. Capital Fund Management S.A.'s holdings in ING Group were worth $10,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ING. Legacy Financial Advisors Inc. raised its stake in shares of ING Group by 10.1% during the first quarter. Legacy Financial Advisors Inc. now owns 24,987 shares of the financial services provider's stock worth $490,000 after purchasing an additional 2,297 shares during the last quarter. Qtron Investments LLC raised its position in ING Group by 3.8% during the 1st quarter. Qtron Investments LLC now owns 66,416 shares of the financial services provider's stock worth $1,301,000 after buying an additional 2,454 shares during the last quarter. Northern Trust Corp raised its position in ING Group by 4.4% during the 1st quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider's stock worth $85,078,000 after buying an additional 181,800 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of ING Group by 433.4% in the 1st quarter. Brooklyn Investment Group now owns 9,922 shares of the financial services provider's stock worth $194,000 after acquiring an additional 8,062 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of ING Group in the first quarter valued at about $446,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ING. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

ING Group Price Performance

Shares of ING stock traded down $0.45 during mid-day trading on Monday, reaching $24.46. The stock had a trading volume of 1,932,201 shares, compared to its average volume of 2,761,330. The company has a market cap of $76.99 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11. The business has a 50-day simple moving average of $22.95 and a 200 day simple moving average of $20.66.

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

ING Group Cuts Dividend

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

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.