Exencial Wealth Advisors LLC Acquires Shares of 48,045 ING Group, N.V. $ING

Key Points

• Exencial Wealth Advisors LLC has acquired 48,045 shares of ING Group, N.V., valued at approximately $1,051,000, indicating growing institutional interest in the financial services provider.
• ING Group recently reported Q2 earnings per share of $0.64, surpassing analysts' expectations, with a revenue of $6.55 billion, signaling strong performance.
• The company has cut its dividend to $0.4002, reflecting a dividend payout ratio of 31.80%, despite maintaining a high yield of 450.0%.

Exencial Wealth Advisors LLC bought a new position in ING Group, N.V. (NYSE:ING - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,045 shares of the financial services provider's stock, valued at approximately $1,051,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ING. Goldman Sachs Group Inc. raised its position in shares of ING Group by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider's stock worth $154,653,000 after purchasing an additional 185,506 shares during the last quarter. Northern Trust Corp increased its stake in ING Group by 4.4% during the 1st quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider's stock valued at $85,078,000 after purchasing an additional 181,800 shares in the last quarter. Natixis Advisors LLC raised its holdings in ING Group by 25.7% in the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock worth $83,274,000 after buying an additional 869,281 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of ING Group in the first quarter worth approximately $36,062,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of ING Group by 0.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider's stock worth $34,882,000 after buying an additional 6,200 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Price Performance

NYSE ING opened at $23.86 on Friday. The stock has a market capitalization of $75.08 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.71 and a beta of 1.07. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $26.27. 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 fifty day moving average price is $24.77 and its 200-day moving average price is $22.48.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.40 billion. On average, equities analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ING shares. Cfra Research raised shares of ING Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, September 25th. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings downgraded ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

ING Group 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.

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