Redhawk Wealth Advisors Inc. Invests $1.14 Million in ING Group, N.V. $ING

Key Points

• Redhawk Wealth Advisors Inc. has acquired 51,989 shares of ING Group, valued at approximately $1.14 million, in the second quarter.
• ING Group reported a quarterly earnings of $0.64 per share, surpassing consensus estimates by $0.05, and achieved a revenue of $6.55 billion.
• Analysts recently upgraded ING Group's rating from "equal weight" to "overweight," with a consensus rating of "Moderate Buy" among research analysts.

Redhawk Wealth Advisors Inc. purchased a new stake in shares of ING Group, N.V. (NYSE:ING - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 51,989 shares of the financial services provider's stock, valued at approximately $1,137,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in ING Group by 671.8% in the fourth quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider's stock worth $8,780,000 after buying an additional 487,716 shares during the period. Point72 Asset Management L.P. increased its stake in shares of ING Group by 270.2% in the fourth quarter. Point72 Asset Management L.P. now owns 87,815 shares of the financial services provider's stock worth $1,376,000 after acquiring an additional 64,097 shares during the period. Waverly Advisors LLC acquired a new stake in shares of ING Group in the fourth quarter valued at about $398,000. Parr Mcknight Wealth Management Group LLC purchased a new position in ING Group during the fourth quarter worth about $195,000. Finally, Forum Financial Management LP grew its holdings in shares of ING Group by 10.4% in the fourth quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider's stock valued at $741,000 after purchasing an additional 4,467 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ING shares. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

ING Group Price Performance

Shares of NYSE ING traded down $0.03 during trading hours on Monday, reaching $25.40. 740,581 shares of the stock traded hands, compared to its average volume of 2,747,523. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $25.81. The company has a market capitalization of $79.93 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. The company's 50-day simple moving average is $24.09 and its two-hundred day simple moving average is $21.65.

ING Group (NYSE:ING - Get Free Report) last released 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 return on equity of 11.62% and a net margin of 27.28%.The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. Equities research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given 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 (DPR) is currently 31.34%.

ING Group Company 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.