Merit Financial Group LLC Acquires Shares of 21,617 ING Groep (NYSE:ING)

Merit Financial Group LLC bought a new position in shares of ING Groep (NYSE:ING - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,617 shares of the financial services provider's stock, valued at approximately $423,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in ING Groep by 4.6% during the 1st quarter. Rhumbline Advisers now owns 77,975 shares of the financial services provider's stock worth $1,528,000 after acquiring an additional 3,421 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of ING Groep by 7.4% during the 1st quarter. Parallel Advisors LLC now owns 20,339 shares of the financial services provider's stock worth $398,000 after purchasing an additional 1,400 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ING Groep by 2,660.0% during the first quarter. GAMMA Investing LLC now owns 189,670 shares of the financial services provider's stock worth $37,160,000 after purchasing an additional 182,798 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of 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 in the last quarter. Finally, Boston Common Asset Management LLC increased its holdings in ING Groep by 26.0% in the first quarter. Boston Common Asset Management LLC now owns 281,051 shares of the financial services provider's stock valued at $5,506,000 after buying an additional 57,994 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Stock Performance

Shares of NYSE ING traded up $0.13 during trading hours on Thursday, reaching $21.12. The stock had a trading volume of 694,461 shares, compared to its average volume of 2,280,488. The firm has a 50-day moving average of $19.95 and a 200-day moving average of $18.09. The firm has a market cap of $73.88 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 6.42 and a beta of 1.13. 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 fifty-two week low of $15.09 and a fifty-two week high of $21.76.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Equities research analysts predict 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 paid a dividend of $0.6526 per share. The ex-dividend date was Friday, April 25th. This represents a yield of 5.1%. This is a boost from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio is currently 64.45%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cfra Research raised ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

About ING Groep

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.