GAMMA Investing LLC Purchases 182,798 Shares of ING Groep (NYSE:ING)

GAMMA Investing LLC lifted its stake in shares of ING Groep (NYSE:ING - Free Report) by 2,660.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,670 shares of the financial services provider's stock after acquiring an additional 182,798 shares during the quarter. GAMMA Investing LLC's holdings in ING Groep were worth $37,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in ING Groep by 697.9% during the first quarter. Versant Capital Management Inc now owns 22,668 shares of the financial services provider's stock worth $444,000 after purchasing an additional 19,827 shares during the period. Boston Common Asset Management LLC grew its stake in ING Groep by 26.0% during the first quarter. Boston Common Asset Management LLC now owns 281,051 shares of the financial services provider's stock worth $5,506,000 after purchasing an additional 57,994 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in ING Groep by 129.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,677 shares of the financial services provider's stock worth $2,612,000 after purchasing an additional 94,080 shares during the period. Challenger Wealth Management acquired a new stake in ING Groep during the fourth quarter worth approximately $329,000. Finally, Forum Financial Management LP grew its stake in ING Groep by 10.4% during the fourth quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider's stock worth $741,000 after purchasing an additional 4,467 shares during the period. 4.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ING. Cfra Research raised ING Groep from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ING Groep has a consensus rating of "Moderate Buy".

ING Groep Stock Up 0.3%

Shares of NYSE:ING traded up $0.07 during mid-day trading on Friday, hitting $21.21. 1,620,317 shares of the company traded hands, compared to its average volume of 2,290,432. The stock has a market cap of $74.18 billion, a P/E ratio of 9.91, a P/E/G ratio of 6.42 and a beta of 1.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 12-month low of $15.09 and a 12-month high of $21.76. The stock has a 50-day moving average price of $19.81 and a two-hundred day moving average price of $17.97.

ING Groep (NYSE:ING - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities research analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a dividend of $0.6526 per share. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. This represents a yield of 5.1%. The ex-dividend date was Friday, April 25th. ING Groep's dividend payout ratio (DPR) is 64.45%.

ING Groep 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.