Simplicity Wealth LLC Buys Shares of 18,858 ING Group, N.V. $ING

Key Points

• Simplicity Wealth LLC has acquired 18,858 shares of ING Group, N.V., valued at approximately $412,000, marking its entry into the company during the 2nd quarter.
• The stock has received mixed ratings from analysts; while Morgan Stanley and Barclays have upgraded it to "overweight," Weiss Ratings downgraded it to a "hold."
• ING Group recently declared a semi-annual dividend of $0.4002, despite cutting its dividend yield to 450.0%, with a payout ratio of 31.80%.

Simplicity Wealth LLC bought a new stake in ING Group, N.V. (NYSE:ING - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 18,858 shares of the financial services provider's stock, valued at approximately $412,000.

Other hedge funds have also recently bought and sold shares of the company. Legacy Advisors LLC bought a new position in ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of 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 valued at $31,000 after purchasing an additional 912 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of ING Group in the 2nd quarter valued at approximately $37,000. Maseco LLP acquired a new stake in shares of ING Group in the 2nd quarter valued at approximately $48,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of ING Group in the 1st quarter valued at approximately $55,000. 4.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Weiss Ratings downgraded shares of ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Cfra Research upgraded shares of ING Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, September 25th. Finally, Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy".

ING Group Stock Down 0.2%

Shares of NYSE ING opened at $24.42 on Thursday. The company has a market capitalization of $76.86 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $26.27. 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 company's 50 day moving average price is $24.72 and its 200-day moving average price is $22.12.

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

ING Group Cuts Dividend

The company 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. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's payout ratio is 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.

Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Group, N.V. (NYSE:ING - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.