National Bank of Canada FI Boosts Stock Holdings in ING Group, N.V. (NYSE:ING)

Key Points

• The National Bank of Canada FI significantly increased its investment in ING Group, acquiring 378,693 shares and raising its holdings by 1,434.0% to a total of 405,101 shares valued at approximately $7.93 million.
• This quarter, ING Group reported earnings of $0.64 per share, exceeding expectations, and announced a semi-annual dividend of $0.4002 with a yield of 450%.
• Analysts have varied opinions on ING Group with a consensus rating of "Moderate Buy", reflecting a mix of upgrades and hold ratings from different research firms.

National Bank of Canada FI lifted its position in ING Group, N.V. (NYSE:ING - Free Report) by 1,434.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 405,101 shares of the financial services provider's stock after buying an additional 378,693 shares during the period. National Bank of Canada FI's holdings in ING Group were worth $7,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ING. Legacy Advisors LLC purchased a new position in shares of ING Group in the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position 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 worth $31,000 after buying an additional 912 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of ING Group in the 4th quarter worth approximately $41,000. Olde Wealth Management LLC purchased a new position in shares of ING Group in the 1st quarter worth approximately $55,000. Finally, Hexagon Capital Partners LLC boosted its stake in 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 worth $100,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

ING stock traded down $0.09 during trading on Friday, reaching $24.87. The company had a trading volume of 2,334,625 shares, compared to its average volume of 2,812,603. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.11. The firm has a 50-day simple moving average of $22.58 and a 200-day simple moving average of $20.35. The company has a market cap of $78.28 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.40 billion. As a group, sell-side analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on ING shares. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock 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.