Challenger Wealth Management Buys Shares of 21,000 ING Groep (NYSE:ING)

Challenger Wealth Management acquired a new position in ING Groep (NYSE:ING - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,000 shares of the financial services provider's stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ING. Forum Financial Management LP increased its holdings in shares of ING Groep by 10.4% in the 4th quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider's stock worth $741,000 after acquiring an additional 4,467 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of ING Groep during the 4th quarter worth $195,000. Waverly Advisors LLC acquired a new position in ING Groep during the 4th quarter worth $398,000. Royal Bank of Canada lifted its position in ING Groep by 0.8% in the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock worth $61,844,000 after purchasing an additional 31,963 shares during the period. Finally, Redwood Investments LLC bought a new stake in shares of ING Groep during the fourth quarter valued at approximately $41,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Up 0.4%

ING stock traded up $0.08 on Friday, reaching $21.23. 1,775,247 shares of the company traded hands, compared to its average volume of 2,882,757. The firm has a fifty day simple moving average of $19.65 and a 200-day simple moving average of $17.74. 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 cap of $74.25 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 6.42 and a beta of 1.15. ING Groep has a one year low of $15.09 and a one year high of $21.76.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share 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 business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. Research analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ING shares. Cfra Research upgraded shares of ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ING Groep currently has a consensus rating of "Moderate Buy".

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.