22,785 Shares in ING Group, N.V. $ING Purchased by Summit Securities Group LLC

Key Points

• Summit Securities Group LLC invested $446,000 in ING Group, acquiring 22,785 shares during the first quarter, as revealed in their recent SEC disclosure.
• Several hedge funds have increased their stakes in ING Group recently, with Invesco Ltd. upping its holdings by 40.8% in the fourth quarter.
• ING Group announced a semi-annual dividend of $0.4002, representing a yield of 450.0%, scheduled for distribution on August 25th.

Summit Securities Group LLC bought a new position in ING Group, N.V. (NYSE:ING - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,785 shares of the financial services provider's stock, valued at approximately $446,000.

Several other institutional investors have also recently bought and sold shares of ING. Legacy Advisors LLC bought a new position in shares of ING Group during the 1st quarter worth about $28,000. SBI Securities Co. Ltd. increased its holdings in shares of 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 worth $31,000 after purchasing an additional 912 shares during the period. Redwood Investments LLC bought a new position in shares of ING Group during the 4th quarter worth about $41,000. Olde Wealth Management LLC bought a new position in shares of ING Group during the 1st quarter worth about $55,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of 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 purchasing an additional 897 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Group Stock Up 0.4%

Shares of ING stock traded up $0.0950 during trading hours on Friday, hitting $24.9450. 1,508,670 shares of the company were exchanged, compared to its average volume of 2,760,636. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $25.11. The business has a 50 day moving average of $22.87 and a two-hundred day moving average of $20.55. The company has a market capitalization of $78.51 billion, a PE ratio of 11.50, a PEG ratio of 1.78 and a beta of 1.14. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83.

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

ING Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be paid a $0.4002 dividend. The ex-dividend date is Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio (DPR) is currently 31.80%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently 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.