Curi RMB Capital LLC Buys New Stake in ING Group, N.V. $ING

Key Points

• Curi RMB Capital LLC has acquired 348,792 shares of ING Group, valued at approximately $6.83 million, during the first quarter according to their Form 13F filing.
• ING Group reported a net margin of 27.28% and earnings per share that surpassed expectations at $0.64.
• Barclays and Morgan Stanley both upgraded ING Group's rating to "overweight," with the stock now rated as a "Moderate Buy" by analysts.

Curi RMB Capital LLC purchased a new stake in shares of ING Group, N.V. (NYSE:ING - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 348,792 shares of the financial services provider's stock, valued at approximately $6,833,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new stake in ING Group during the 1st quarter valued at approximately $36,062,000. Natixis Advisors LLC boosted its holdings in shares of ING Group by 25.7% in the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock valued at $83,274,000 after buying an additional 869,281 shares in the last quarter. Millennium Management LLC boosted its holdings in ING Group by 671.8% in the fourth quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider's stock worth $8,780,000 after acquiring an additional 487,716 shares in the last quarter. National Bank of Canada FI boosted its holdings in 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 worth $7,932,000 after acquiring an additional 378,693 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of ING Group by 60.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 529,731 shares of the financial services provider's stock worth $10,377,000 after purchasing an additional 198,549 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Trading Up 2.8%

Shares of NYSE ING traded up $0.69 during mid-day trading on Wednesday, reaching $24.79. 2,008,683 shares of the company's stock were exchanged, compared to its average volume of 2,777,607. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $25.11. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.77 and a beta of 1.10. The company's 50-day moving average is $23.66 and its 200-day moving average is $21.24.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.40 billion. Analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

ING has been the subject of a number of research reports. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock 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.