Connor Clark & Lunn Investment Management Ltd. Raises Stake in ING Group, N.V. (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 21.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,771 shares of the financial services provider's stock after purchasing an additional 37,704 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in ING Group were worth $4,109,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ING. Zions Bancorporation National Association UT bought a new stake in shares of ING Group in the first quarter valued at about $1,871,000. National Bank of Canada FI raised its holdings in shares of ING Group by 1,434.0% in the first quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider's stock valued at $7,932,000 after acquiring an additional 378,693 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of ING Group by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,836 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 1,189 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ING Group by 21.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 285,853 shares of the financial services provider's stock valued at $5,600,000 after acquiring an additional 51,324 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Stock Down 0.4%

ING Group stock traded down $0.09 during trading hours on Friday, reaching $24.87. The stock had a trading volume of 2,334,625 shares, compared to its average volume of 2,812,603. The company has a market cap of $78.28 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.79 and a beta of 1.14. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. The business's 50 day moving average price is $22.58 and its 200-day moving average price is $20.35. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $25.11.

ING Group (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The business 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%. Sell-side analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently 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.