Fulton Bank N.A. Takes $234,000 Position in ING Group, N.V. $ING

Key Points

• Fulton Bank N.A. invested $234,000 in ING Group, acquiring 10,694 shares during the second quarter.
• Several institutional investors have increased their stakes in ING Group, with notable changes including SBI Securities Co. Ltd.'s 135.3% increase.
• ING Group's stock is currently rated as a Moderate Buy by analysts, with recent upgrades from Morgan Stanley and Barclays from "equal weight" to "overweight."

Fulton Bank N.A. bought a new position in ING Group, N.V. (NYSE:ING - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 10,694 shares of the financial services provider's stock, valued at approximately $234,000.

Several other large investors have also made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake 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 valued at $154,653,000 after purchasing an additional 185,506 shares during the period. Northern Trust Corp grew its holdings in shares of ING Group by 4.4% in the first 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 during the period. Natixis Advisors LLC grew its holdings in shares of 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 valued at $83,274,000 after purchasing an additional 869,281 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in ING Group during the first quarter worth about $36,062,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of ING Group by 0.3% during 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 purchasing an additional 6,200 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ING has been the topic of several analyst reports. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

ING Group Price Performance

Shares of ING Group stock traded up $0.29 during trading on Tuesday, reaching $25.72. 883,177 shares of the company's stock were exchanged, compared to its average volume of 2,742,084. 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 1-year low of $15.09 and a 1-year high of $25.92. The company has a market cap of $80.94 billion, a P/E ratio of 11.85, a PEG ratio of 1.83 and a beta of 1.10. The firm's 50-day moving average price is $24.14 and its 200 day moving average price is $21.69.

ING Group (NYSE:ING - Get Free Report) last issued its earnings results 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. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.40 billion. As a group, research analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a dividend of $0.4002 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio (DPR) is currently 31.80%.

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.