QRG Capital Management Inc. Purchases 52,524 Shares of ING Group, N.V. $ING

Key Points

• QRG Capital Management increased its ING Group stake by 15.4% in the second quarter, purchasing 52,524 additional shares for a total holding of 394,253 shares valued at $12.4 million.
• ING shares opened at $35.91, near their 12-month high of $37.52. The bank reported quarterly EPS of $0.79, beating estimates of $0.75, while revenue came in at $4.76 billion.
• Analyst sentiment is generally positive, with ING holding a consensus “Moderate Buy” rating; one analyst upgraded the stock to “overweight,” while the company maintains a 29.1% dividend payout ratio.

QRG Capital Management Inc. grew its position in ING Group, N.V. (NYSE:ING - Free Report) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,253 shares of the financial services provider's stock after purchasing an additional 52,524 shares during the period. QRG Capital Management Inc.'s holdings in ING Group were worth $12,372,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ING. Goldman Sachs Group Inc. lifted its position in shares of ING Group by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider's stock worth $218,535,000 after buying an additional 191,101 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of ING Group by 9.5% in the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider's stock valued at $46,986,000 after acquiring an additional 156,461 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its position in shares of ING Group by 954.1% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider's stock valued at $2,645,000 after acquiring an additional 91,896 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in ING Group by 15.8% during the fourth quarter. Thornburg Investment Management Inc. now owns 632,753 shares of the financial services provider's stock worth $17,717,000 after acquiring an additional 86,364 shares during the period. Finally, Collaborative Fund Advisors LLC purchased a new position in ING Group in the first quarter worth $2,113,000. 4.49% of the stock is owned by institutional investors.

ING Group Price Performance

ING opened at $35.91 on Thursday. The firm has a 50-day moving average price of $35.28 and a 200-day moving average price of $31.35. ING Group, N.V. has a twelve month low of $23.64 and a twelve month high of $37.52. The company has a quick ratio of 1.11, a current ratio of 1.10 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $102.72 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.95 and a beta of 0.84.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. ING Group had a return on equity of 12.59% and a net margin of 28.15%.The firm had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $6.99 billion. Equities analysts expect that ING Group, N.V. will post 2.82 EPS for the current year.

ING Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.458 dividend. This represents a yield of 260.0%. The ex-dividend date was Monday, August 10th. ING Group's dividend payout ratio is currently 29.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings downgraded shares of ING Group from a "buy (a-)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, September 2nd. Finally, Zacks Research upgraded ING Group from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, ING Group presently has a consensus rating of "Moderate Buy".

About ING Group

ING Group N.V. is a Dutch international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, mortgages, payments, investment products and digital banking solutions.

The company serves individual customers, small and medium-sized businesses, large corporations and institutional clients. Its retail banking activities are concentrated primarily in Europe, while its wholesale banking business supports clients in numerous countries with corporate lending, trade finance, financial markets, cash management and other banking services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.