Park Avenue Securities LLC Acquires 20,778 Shares of ING Groep (NYSE:ING)

Park Avenue Securities LLC lifted its stake in ING Groep (NYSE:ING - Free Report) by 63.5% in the 1st 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 buying an additional 20,778 shares during the period. Park Avenue Securities LLC's holdings in ING Groep were worth $1,048,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ING. Raymond James Financial Inc. acquired a new position in ING Groep in the fourth quarter worth about $14,375,000. Oppenheimer Asset Management Inc. raised its position in ING Groep by 18.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider's stock worth $1,442,000 after purchasing an additional 14,476 shares in the last quarter. ABC Arbitrage SA acquired a new position in ING Groep in the fourth quarter worth about $10,129,000. Y Intercept Hong Kong Ltd raised its position in ING Groep by 97.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider's stock worth $814,000 after purchasing an additional 25,624 shares in the last quarter. Finally, Royal Bank of Canada raised its position in ING Groep by 0.8% in the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock worth $61,844,000 after purchasing an additional 31,963 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Groep Price Performance

Shares of NYSE ING traded down $0.37 during mid-day trading on Friday, hitting $20.81. 3,983,615 shares of the stock were exchanged, compared to its average volume of 2,287,096. The company has a market cap of $72.78 billion, a P/E ratio of 9.72, a PEG ratio of 6.42 and a beta of 1.13. The stock's fifty day simple moving average is $20.12 and its two-hundred day simple moving average is $18.19. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a twelve month low of $15.09 and a twelve month high of $21.76.

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

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were paid a dividend of $0.6526 per share. This is a boost from ING Groep's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, April 25th. ING Groep's dividend payout ratio is 64.45%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ING. The Goldman Sachs Group raised shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research raised shares of ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ING Groep presently has an average rating of "Moderate Buy".

ING Groep 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.