Russell Investments Group Ltd. Raises Stock Position in ING Group, N.V. $ING

Key Points

• Russell Investments Group Ltd. increased its holdings in ING Group, N.V. by 511.1% in Q1, owning 145,583 shares valued at $2.85 million after acquiring an additional 121,760 shares.
• Analysts have generally upgraded ING Group, with Cfra Research moving from a "moderate sell" to a "hold" rating, and Barclays upgrading from "equal weight" to "overweight," resulting in a consensus rating of "Moderate Buy."
• The company recently declared a semi-annual dividend of $0.4002 per share, with an impressive yield of 450.0%, reflective of a dividend payout ratio of 31.80%.

Russell Investments Group Ltd. lifted its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 511.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 145,583 shares of the financial services provider's stock after buying an additional 121,760 shares during the quarter. Russell Investments Group Ltd.'s holdings in ING Group were worth $2,852,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ING. Legacy Advisors LLC purchased a new position in shares of ING Group in the first quarter valued at about $28,000. SBI Securities Co. Ltd. raised its stake in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the period. Redwood Investments LLC purchased a new position in ING Group in the 4th quarter worth approximately $41,000. Olde Wealth Management LLC purchased a new position in ING Group in the 1st quarter worth approximately $55,000. Finally, Hexagon Capital Partners LLC boosted its stake in ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after purchasing an additional 897 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

Analysts Set New Price Targets

ING has been the topic of several research analyst reports. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays raised shares of 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, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

ING Group Price Performance

Shares of NYSE:ING traded down $0.13 on Thursday, reaching $23.92. The company's stock had a trading volume of 2,736,791 shares, compared to its average volume of 2,754,883. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $25.11. The company has a market cap of $75.27 billion, a P/E ratio of 11.02, a PEG ratio of 1.75 and a beta of 1.14. The company has a 50-day simple moving average of $23.17 and a 200 day simple moving average of $20.76. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.40 billion. As a group, equities research analysts anticipate that ING Group, N.V. will post 2.14 EPS 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. Shareholders 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 dividend payout ratio (DPR) is presently 31.80%.

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.