Royal Bank of Canada Acquires 31,963 Shares of ING Groep (NYSE:ING)

Royal Bank of Canada increased its holdings in shares of ING Groep (NYSE:ING - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,946,653 shares of the financial services provider's stock after buying an additional 31,963 shares during the period. Royal Bank of Canada owned 0.11% of ING Groep worth $61,844,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Roxbury Financial LLC acquired a new position in ING Groep in the fourth quarter valued at about $25,000. Brooklyn Investment Group increased its stake in shares of ING Groep by 184.8% in the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,207 shares during the last quarter. Redwood Investments LLC acquired a new stake in shares of ING Groep in the 4th quarter valued at approximately $41,000. IFP Advisors Inc raised its position in shares of ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 621 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in ING Groep during the 4th quarter worth approximately $55,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Down 1.4%

NYSE ING traded down $0.30 during trading hours on Monday, reaching $21.13. 2,678,120 shares of the company's stock were exchanged, compared to its average volume of 2,283,725. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $73.90 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 6.42 and a beta of 1.15. The company's 50-day moving average is $19.56 and its two-hundred day moving average is $17.62. ING Groep has a one year low of $15.09 and a one year high of $21.76.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $5.74 billion. ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a $0.6526 dividend. This is an increase from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date was Friday, April 25th. This represents a dividend yield of 5.1%. ING Groep's dividend payout ratio (DPR) is currently 64.45%.

Analysts Set New Price Targets

Several brokerages have commented on ING. The Goldman Sachs Group raised shares of ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Cfra Research raised ING Groep from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

ING Groep 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.