Vestmark Advisory Solutions Inc. Has $1.34 Million Holdings in ING Group, N.V. $ING

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in ING Group by 102.4%, now owning 68,158 shares valued at approximately $1.34 million.
• ING Group reported earnings of $0.64 per share, surpassing analyst expectations, with revenue for the quarter at $6.55 billion.
• The firm announced a semi-annual dividend of $0.4002, yielding 450.0%, with the ex-dividend date set for August 11th.

Vestmark Advisory Solutions Inc. lifted its position in ING Group, N.V. (NYSE:ING - Free Report) by 102.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 68,158 shares of the financial services provider's stock after purchasing an additional 34,481 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in ING Group were worth $1,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Legacy Advisors LLC bought a new position in shares of ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the last quarter. Redwood Investments LLC bought a new position in shares of ING Group in the 4th quarter valued at about $41,000. Olde Wealth Management LLC bought a new position in shares of ING Group in the 1st quarter valued at about $55,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 897 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Stock Up 0.2%

ING stock traded up $0.0450 during mid-day trading on Friday, hitting $24.8950. 933,911 shares of the company were exchanged, compared to its average volume of 2,756,490. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $78.35 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.78 and a beta of 1.14. The firm's 50 day simple moving average is $22.87 and its 200 day simple moving average is $20.55. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $25.11.

ING Group (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm 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%. On average, sell-side analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ING. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, ING Group currently has a consensus rating of "Moderate Buy".

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.