Abundance Wealth Counselors Buys 12,257 Shares of ING Group, N.V. (NYSE:ING)

Abundance Wealth Counselors raised its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,030 shares of the financial services provider's stock after buying an additional 12,257 shares during the quarter. Abundance Wealth Counselors' holdings in ING Group were worth $1,098,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ING. Allspring Global Investments Holdings LLC raised its stake in shares of ING Group by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,143 shares of the financial services provider's stock worth $436,000 after purchasing an additional 2,765 shares during the last quarter. Principal Securities Inc. raised its stake in shares of ING Group by 689.6% in the fourth quarter. Principal Securities Inc. now owns 18,896 shares of the financial services provider's stock worth $296,000 after purchasing an additional 16,503 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of ING Group in the fourth quarter worth $248,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of ING Group by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock worth $229,000 after purchasing an additional 722 shares during the last quarter. Finally, Hardy Reed LLC purchased a new position in shares of ING Group in the fourth quarter worth $164,000. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

Shares of ING traded up $0.34 during trading hours on Monday, hitting $20.74. The stock had a trading volume of 2,971,582 shares, compared to its average volume of 2,299,508. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.12 and a quick ratio of 1.12. ING Group, N.V. has a 12 month low of $15.09 and a 12 month high of $21.76. The firm has a market capitalization of $72.55 billion, a PE ratio of 9.83, a PEG ratio of 1.94 and a beta of 1.13. The stock has a fifty day moving average price of $20.47 and a 200 day moving average price of $18.42.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Group had a return on equity of 11.68% and a net margin of 27.70%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. Analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a $0.6526 dividend. The ex-dividend date was Friday, April 25th. This represents a dividend yield of 5.1%. This is a positive change from ING Group's previous semi-annual dividend of $0.17. ING Group's payout ratio is presently 64.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ING shares. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upgraded ING Group from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

ING Group 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.