Charles Schwab Investment Management Inc. Grows Position in ING Group, N.V. $ING

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ING Group, N.V. by 21.9%, acquiring an additional 51,324 shares, bringing its total holdings to 285,853 shares valued at approximately $5.6 million.
• ING Group reported quarterly earnings of $0.64 per share, exceeding expectations by $0.05, with a revenue of $6.55 billion for the quarter.
• The company recently paid a semi-annual dividend of $0.4002 per share, contributing to a yield of 450.0%, amidst a dividend payout ratio of 31.80%.

Charles Schwab Investment Management Inc. lifted its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,853 shares of the financial services provider's stock after buying an additional 51,324 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in ING Group were worth $5,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Advisors LLC purchased a new stake in ING Group in the first quarter worth about $28,000. SBI Securities Co. Ltd. lifted its position in ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the period. Redwood Investments LLC bought a new position in ING Group during the fourth quarter valued at approximately $41,000. Olde Wealth Management LLC purchased a new stake in ING Group during the first quarter valued at approximately $55,000. Finally, Hexagon Capital Partners LLC increased its holdings in ING Group by 21.4% during the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after buying an additional 897 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Price Performance

ING stock traded down $0.07 during trading on Monday, hitting $23.85. 3,505,063 shares of the company's stock traded hands, compared to its average volume of 2,656,206. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $25.11. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The business has a fifty day simple moving average of $23.30 and a 200 day simple moving average of $20.92. The stock has a market capitalization of $75.05 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.71 and a beta of 1.10.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The business 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, research analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a $0.4002 dividend. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's payout ratio is currently 31.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ING. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average 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.