51,989 Shares in ING Group, N.V. $ING Bought by Redhawk Wealth Advisors Inc.

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. acquired a new stake in ING Group, N.V. (NYSE:ING - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 51,989 shares of the financial services provider's stock, valued at approximately $1,137,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ING. Allspring Global Investments Holdings LLC boosted its position in shares of ING Group by 68.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock worth $931,000 after acquiring an additional 19,332 shares in the last quarter. Penserra Capital Management LLC acquired a new position in ING Group in the 1st quarter valued at about $126,000. FORA Capital LLC acquired a new position in ING Group during the 1st quarter worth approximately $302,000. PNC Financial Services Group Inc. increased its position in ING Group by 14.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider's stock worth $2,038,000 after purchasing an additional 13,304 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in ING Group during the 1st quarter worth approximately $274,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Stock Performance

Shares of NYSE:ING traded up $0.02 during trading hours on Monday, hitting $25.44. The stock had a trading volume of 1,641,592 shares, compared to its average volume of 2,560,294. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $25.81. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $80.06 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.83 and a beta of 1.10. The stock's fifty day simple moving average is $24.14 and its 200 day simple moving average is $21.69.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. Sell-side analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.4002 dividend. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's payout ratio is presently 31.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. One investment 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 company 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.