Millennium Management LLC Has $8.78 Million Stock Holdings in ING Groep (NYSE:ING)

Millennium Management LLC boosted its holdings in ING Groep (NYSE:ING - Free Report) by 671.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,313 shares of the financial services provider's stock after purchasing an additional 487,716 shares during the quarter. Millennium Management LLC's holdings in ING Groep were worth $8,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank increased its holdings in shares of ING Groep by 1.7% in the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock valued at $549,000 after purchasing an additional 597 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after buying an additional 621 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after purchasing an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of ING Groep by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock worth $651,000 after acquiring an additional 716 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock valued at $229,000 after buying an additional 722 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ING Groep Price Performance

NYSE ING traded up $0.09 on Friday, reaching $21.24. The company's stock had a trading volume of 367,862 shares, compared to its average volume of 2,273,240. ING Groep has a twelve month low of $15.09 and a twelve month high of $21.76. The firm's 50 day moving average is $19.65 and its two-hundred day moving average is $17.74. The stock has a market cap of $74.28 billion, a PE ratio of 9.91, a PEG ratio of 6.42 and a beta of 1.15. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $6.36 billion during 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%. As a group, sell-side analysts predict that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

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