Sei Investments Co. Purchases 61,039 Shares of ING Group, N.V. $ING

Key Points

• Sei Investments Co. increased its holdings in ING Group, N.V. by 10% in the first quarter, acquiring an additional 61,039 shares, bringing their total to 669,011 shares worth approximately $13.1 million.
• Several institutional investors have also raised their stakes in ING Group, with Hexagon Capital Partners LLC leading with a 21.4% increase in their position during the same quarter.
• Despite the increase in institutional ownership, analysts have mixed ratings on ING Group, with Cfra Research upgrading the stock to a "hold" rating while Barclays upgraded it to "overweight."

Sei Investments Co. lifted its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 669,011 shares of the financial services provider's stock after acquiring an additional 61,039 shares during the period. Sei Investments Co.'s holdings in ING Group were worth $13,106,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in ING Group by 4.4% in the first quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock worth $249,000 after acquiring an additional 530 shares in the last quarter. Wedmont Private Capital raised its holdings in ING Group by 6.5% during the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock worth $208,000 after buying an additional 693 shares during the period. Drive Wealth Management LLC raised its holdings in ING Group by 6.5% during the 1st quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider's stock worth $227,000 after buying an additional 707 shares during the period. Janney Montgomery Scott LLC raised its holdings in ING Group by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider's stock worth $1,227,000 after buying an additional 786 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in ING Group by 21.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after buying an additional 897 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

Shares of ING traded down $0.21 during mid-day trading on Monday, hitting $24.67. The company's stock had a trading volume of 3,287,086 shares, compared to its average volume of 2,768,144. ING Group, N.V. has a one year low of $15.09 and a one year high of $25.11. 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 $77.65 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The stock's 50-day moving average is $22.58 and its two-hundred day moving average is $20.37.

ING Group (NYSE:ING - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, sell-side analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.4002 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio is presently 31.80%.

Analyst Upgrades and Downgrades

ING has been the topic of a number of research reports. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ING Group has an average rating of "Moderate Buy".

ING Group 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.