Nuveen LLC Invests $3.64 Million in ING Group, N.V. $ING

Key Points

• Nuveen LLC acquired a new stake in ING Group, purchasing 185,588 shares valued at approximately $3.6 million.
• ING Group recently reported an earnings per share (EPS) of $0.64 for the last quarter, exceeding analysts' expectations of $0.59.
• The firm announced a semi-annual dividend of $0.4002 per share, with a payout ratio of 31.80% and a significant dividend yield of 450.0%.

Nuveen LLC purchased a new stake in ING Group, N.V. (NYSE:ING - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 185,588 shares of the financial services provider's stock, valued at approximately $3,636,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Advisors LLC acquired a new stake in shares of ING Group during the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. boosted its position in shares of ING Group by 135.3% during 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 acquired a new stake in shares of ING Group during the 4th quarter worth approximately $41,000. Olde Wealth Management LLC acquired a new stake in shares of ING Group during the 1st quarter worth approximately $55,000. Finally, Hexagon Capital Partners LLC boosted its position in ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after buying an additional 897 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Trading Down 0.3%

ING stock traded down $0.07 during midday trading on Monday, hitting $23.85. The stock had a trading volume of 3,505,063 shares, compared to its average volume of 2,656,206. The firm has a market cap of $75.05 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $25.11. The business has a fifty day moving average price of $23.30 and a two-hundred day moving average price of $20.92.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. On average, sell-side analysts predict 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 was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's dividend payout ratio is 31.34%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ING. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a research 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. One equities 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

About ING Group

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.