ING Group, N.V. $ING Shares Bought by Neuberger Berman Group LLC

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 raised its position in ING Group, N.V. (NYSE:ING - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in ING Group by 68.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock valued at $931,000 after buying an additional 19,332 shares in the last quarter. Penserra Capital Management LLC purchased a new position in ING Group during the first quarter worth about $126,000. PNC Financial Services Group Inc. raised its stake in shares of ING Group by 14.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider's stock valued at $2,038,000 after acquiring an additional 13,304 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of ING Group in the 1st quarter valued at approximately $274,000. Finally, Massachusetts Financial Services Co. MA increased its stake in ING Group by 60.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 529,731 shares of the financial services provider's stock worth $10,377,000 after buying an additional 198,549 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ING Group has an average rating of "Moderate Buy".

ING Group Price Performance

NYSE ING traded down $0.21 during trading hours on Monday, reaching $24.67. The company's stock had a trading volume of 3,287,086 shares, compared to its average volume of 2,768,144. The stock has a market cap of $77.65 billion, a PE ratio of 11.37, a PEG ratio of 1.79 and a beta of 1.14. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $25.11. The company's 50-day moving average is $22.58 and its two-hundred day moving average is $20.37. 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 (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping 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 business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.40 billion. Analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

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

ING Group 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.