Neuberger Berman Group LLC Boosts Stake in ING Group, N.V. $ING

Key Points

• Neuberger Berman Group LLC increased its stake in ING Group, N.V. by 22.0%, acquiring a total of 525,985 shares valued at approximately $10.36 million.
• Several institutional investors have also boosted their holdings, including Natixis Advisors LLC, which raised its stake by 25.7%.
• ING Group reported earnings per share of $0.64 for the last quarter, surpassing estimates and indicating a healthy net margin of 27.28% despite a recent cut to its dividend yield.

Neuberger Berman Group LLC grew its stake in ING Group, N.V. (NYSE:ING - Free Report) by 22.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,985 shares of the financial services provider's stock after acquiring an additional 94,839 shares during the period. Neuberger Berman Group LLC's holdings in ING Group were worth $10,363,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Advisors LLC bought a new position in ING Group in the 1st quarter worth about $28,000. SBI Securities Co. Ltd. grew its stake in 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 acquiring an additional 912 shares in the last quarter. Redwood Investments LLC bought a new position in ING Group in the 4th quarter worth about $41,000. Olde Wealth Management LLC bought a new position in ING Group in the 1st quarter worth about $55,000. Finally, Hexagon Capital Partners LLC grew 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 acquiring an additional 897 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Up 0.5%

NYSE:ING traded up $0.1250 during midday trading on Wednesday, reaching $24.8150. 2,694,230 shares of the stock traded hands, compared to its average volume of 2,901,483. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11. The business has a 50-day moving average of $22.80 and a two-hundred day moving average of $20.49. 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 stock has a market capitalization of $78.10 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The company had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.40 billion. On average, equities analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have 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 raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.