Goldman Sachs Group Inc. Buys 185,506 Shares of ING Group, N.V. $ING

Key Points

• Goldman Sachs Group Inc. increased its stake in ING Group by 2.4% during the 1st quarter, acquiring an additional 185,506 shares, resulting in ownership of 7,894,501 shares valued at approximately $154.7 million.
• ING Group reported earnings of $0.64 per share for the last quarter, exceeding expectations, with revenue hitting $6.55 billion, above the anticipated $6.40 billion.
• The company announced a semi-annual dividend of $0.4002 per share, with a payout ratio of 31.80%, while analysts currently rate the stock as a "Moderate Buy" on average.

Goldman Sachs Group Inc. grew its stake in ING Group, N.V. (NYSE:ING - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,894,501 shares of the financial services provider's stock after purchasing an additional 185,506 shares during the quarter. Goldman Sachs Group Inc. owned about 0.23% of ING Group worth $154,653,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ING. Legacy Advisors LLC bought a new position in shares of ING Group during the 1st quarter valued at $28,000. SBI Securities Co. Ltd. increased its stake in shares of ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after buying an additional 912 shares during the period. Redwood Investments LLC bought a new stake in ING Group during the 4th quarter valued at $41,000. Olde Wealth Management LLC bought a new position in shares of ING Group during the 1st quarter worth approximately $55,000. Finally, MAI Capital Management boosted its holdings in ING Group by 23.1% in the first quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock worth $82,000 after acquiring an additional 785 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ING shares. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, September 2nd. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

ING Group Price Performance

ING stock traded down $0.11 on Wednesday, reaching $25.33. 428,798 shares of the company's stock were exchanged, compared to its average volume of 2,760,125. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The firm has a market cap of $79.71 billion, a PE ratio of 11.68, a P/E/G ratio of 1.85 and a beta of 1.10. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.81. The stock has a fifty day moving average of $23.94 and a 200-day moving average of $21.50.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. The business 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%. As a group, equities analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

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.