Park Avenue Securities LLC Boosts Stake in ING Groep (NYSE:ING)

Park Avenue Securities LLC raised its holdings in ING Groep (NYSE:ING - Free Report) by 63.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,481 shares of the financial services provider's stock after purchasing an additional 20,778 shares during the quarter. Park Avenue Securities LLC's holdings in ING Groep were worth $1,048,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ING. Wedmont Private Capital grew its position in ING Groep by 6.5% in the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock valued at $208,000 after buying an additional 693 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of ING Groep by 12.2% in the 1st quarter. Sivia Capital Partners LLC now owns 14,078 shares of the financial services provider's stock worth $276,000 after acquiring an additional 1,526 shares during the period. First Affirmative Financial Network boosted its holdings in shares of ING Groep by 15.8% in the first quarter. First Affirmative Financial Network now owns 18,072 shares of the financial services provider's stock valued at $354,000 after acquiring an additional 2,471 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of ING Groep by 27.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 196,987 shares of the financial services provider's stock worth $3,859,000 after acquiring an additional 42,093 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of ING Groep during the first quarter worth about $423,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Price Performance

ING stock traded up $0.12 during trading on Monday, reaching $20.92. 2,393,461 shares of the company were exchanged, compared to its average volume of 2,287,521. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock's 50 day moving average price is $20.21 and its 200 day moving average price is $18.24. ING Groep has a 52-week low of $15.09 and a 52-week high of $21.76. The company has a market cap of $73.16 billion, a P/E ratio of 9.77, a PEG ratio of 6.42 and a beta of 1.13.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were given a $0.6526 dividend. The ex-dividend date was Friday, April 25th. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. ING Groep's payout ratio is currently 64.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ING shares. Cfra Research raised ING Groep from a "moderate sell" rating to a "hold" rating in a 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 research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

About ING Groep

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.