Entropy Technologies LP Makes New $1.09 Million Investment in ING Group, N.V. (NYSE:ING)

Key Points

• Entropy Technologies LP acquired 55,683 shares of ING Group, N.V., valued at approximately $1,091,000, as per its latest Form 13F filing with the SEC.
• Barclays upgraded ING Group's rating from "equal weight" to "overweight," and the stock currently holds an average rating of "Moderate Buy" among analysts.
• ING Group declared a semi-annual dividend of $0.4002, with an ex-dividend date set for August 11th, representing a dividend yield of 450.0%.

Entropy Technologies LP bought a new stake in shares of ING Group, N.V. (NYSE:ING - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 55,683 shares of the financial services provider's stock, valued at approximately $1,091,000.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in ING Group during the first quarter valued at $28,000. SBI Securities Co. Ltd. grew its stake in shares of ING Group by 135.3% during the 1st 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 stake in shares of ING Group during the 4th quarter valued at about $41,000. Olde Wealth Management LLC purchased a new stake in shares of ING Group during the 1st quarter valued at about $55,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after purchasing an additional 897 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

ING Group Stock Performance

Shares of ING traded down $0.09 on Friday, reaching $24.87. The company's stock had a trading volume of 2,334,625 shares, compared to its average volume of 2,812,603. 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 stock has a market capitalization of $78.28 billion, a P/E ratio of 11.46, a PEG ratio of 1.79 and a beta of 1.14. The stock's 50 day simple moving average is $22.58 and its two-hundred day simple moving average is $20.32. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The company had revenue of $6.55 billion for 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%. Research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.4002 per share. The ex-dividend date is Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio (DPR) 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.