Ritholtz Wealth Management Acquires 47,969 Shares of ING Group, N.V. $ING

Key Points

• Ritholtz Wealth Management increased its holdings in ING Group by 33.6% in Q2, acquiring a total of 47,969 shares to reach 190,867 shares worth approximately $4.17 million.
• ING Group's stock has received multiple analyst upgrades, achieving a current average rating of "Buy", with recent upgrades from Cfra Research and Barclays.
• The company declared a semi-annual dividend of $0.4002 per share, with a significant yield of 450.0% and a payout ratio of 31.80%.

Ritholtz Wealth Management raised its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 33.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,867 shares of the financial services provider's stock after buying an additional 47,969 shares during the quarter. Ritholtz Wealth Management's holdings in ING Group were worth $4,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Advisors LLC purchased a new stake in ING Group in the first quarter worth $28,000. SBI Securities Co. Ltd. raised its holdings in ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after purchasing an additional 912 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of ING Group in the 2nd quarter worth about $37,000. Maseco LLP bought a new stake in shares of ING Group during the 2nd quarter valued at about $48,000. Finally, Olde Wealth Management LLC purchased a new position in shares of ING Group during the first quarter valued at about $55,000. Institutional investors own 4.49% of the company's stock.

Analyst Ratings Changes

ING has been the subject of several research analyst reports. Cfra Research upgraded shares of ING Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, September 25th. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Weiss Ratings cut ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Finally, Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

ING Group Stock Performance

Shares of ING opened at $24.35 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The business's 50 day moving average price is $24.83 and its 200-day moving average price is $22.26. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $26.27. The stock has a market cap of $76.62 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.77 and a beta of 1.07.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating 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 company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. Equities research analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given 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 currently 31.80%.

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.

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