Price T Rowe Associates Inc. MD Acquires Shares of 1,840,741 ING Group, N.V. $ING

Key Points

• Price T Rowe Associates Inc. MD has acquired 1,840,741 shares of ING Group, N.V., valued at approximately $36 million, during the first quarter.
• Recent analyst ratings reflect a shift in perspective, with Cfra Research upgrading ING Group from "moderate sell" to "hold," and Barclays moving from "equal weight" to "overweight."
• ING Group has announced a semi-annual dividend of $0.4002 per share, resulting in a high dividend yield of 450.0%.

Price T Rowe Associates Inc. MD acquired a new position in shares of ING Group, N.V. (NYSE:ING - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,840,741 shares of the financial services provider's stock, valued at approximately $36,062,000. Price T Rowe Associates Inc. MD owned approximately 0.05% of ING Group as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ING. Legacy Advisors LLC bought a new position in shares of ING Group during the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its stake in 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 valued at $31,000 after purchasing an additional 912 shares in the last quarter. Redwood Investments LLC acquired a new position in ING Group during the 4th quarter valued at approximately $41,000. Olde Wealth Management LLC acquired a new position in ING Group during the 1st quarter valued at approximately $55,000. Finally, Hexagon Capital Partners LLC increased its stake in ING Group by 21.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 897 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

NYSE ING traded down $0.07 during mid-day trading on Monday, reaching $23.85. 3,505,063 shares of the stock were exchanged, compared to its average volume of 2,656,206. The business's 50 day moving average is $23.30 and its 200-day moving average is $20.92. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $25.11. The company has a market capitalization of $75.05 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.71 and a beta of 1.10. 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 announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (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 firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. On average, equities research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio is 31.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ING shares. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average 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.