ING Group, N.V. $ING Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in ING Group, N.V. by 75.2% during the 2nd quarter, acquiring additional shares worth over $2.29 million.
• Barclays and Morgan Stanley upgraded ING Group’s stock rating to overweight, indicating positive growth expectations, while Weiss Ratings downgraded it to a "hold".
• ING Group's recent quarterly earnings exceeded analyst expectations, reporting $0.64 earnings per share compared to an estimate of $0.59, alongside a successful revenue of $6.55 billion.

Callan Family Office LLC grew its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 75.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,735 shares of the financial services provider's stock after purchasing an additional 44,960 shares during the period. Callan Family Office LLC's holdings in ING Group were worth $2,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in ING Group by 2.4% during 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 acquiring an additional 185,506 shares in the last quarter. Northern Trust Corp lifted 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 worth $85,078,000 after acquiring an additional 181,800 shares in the last quarter. Natixis Advisors LLC lifted its stake in ING Group by 25.7% during the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock worth $83,274,000 after acquiring an additional 869,281 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in ING Group during the 1st quarter worth about $36,062,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in ING Group by 0.3% during the 1st 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 acquiring an additional 6,200 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised ING Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, September 25th. Weiss Ratings lowered ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Finally, Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

ING Group Price Performance

ING stock opened at $24.01 on Friday. 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 firm has a market capitalization of $75.56 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.72 and a beta of 1.07. The business's 50-day moving average is $24.76 and its two-hundred day moving average is $22.19. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal 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 issued a $0.4002 dividend. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio is presently 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.

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