US Bancorp DE Boosts Holdings in ING Group, N.V. (NYSE:ING)

Key Points

• US Bancorp DE has increased its holdings in ING Group, N.V. by 13.0% in the first quarter, now owning 192,174 shares worth approximately $3.76 million.
• ING Group reported a quarterly EPS of $0.64, exceeding analysts' expectations, with revenue of $6.55 billion compared to estimates of $6.40 billion.
• The company has announced a semi-annual dividend of $0.4002, leading to a significant dividend yield of 450.0%, but has a dividend payout ratio (DPR) of 62.67%.

US Bancorp DE raised its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 13.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,174 shares of the financial services provider's stock after acquiring an additional 22,153 shares during the period. US Bancorp DE's holdings in ING Group were worth $3,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ING. Allspring Global Investments Holdings LLC raised its position in ING Group by 68.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock valued at $931,000 after purchasing an additional 19,332 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of ING Group in the 1st quarter valued at $126,000. Concurrent Investment Advisors LLC acquired a new position in ING Group during the 1st quarter worth about $274,000. Massachusetts Financial Services Co. MA boosted its holdings in ING Group by 60.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 529,731 shares of the financial services provider's stock valued at $10,377,000 after acquiring an additional 198,549 shares during the period. Finally, Cerity Partners LLC boosted its holdings in ING Group by 28.7% during the 1st quarter. Cerity Partners LLC now owns 308,499 shares of the financial services provider's stock valued at $6,043,000 after acquiring an additional 68,843 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on ING shares. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ING Group has a consensus rating of "Moderate Buy".

ING Group Stock Up 1.5%

Shares of ING stock traded up $0.35 during trading hours on Thursday, reaching $23.95. 1,774,511 shares of the stock were exchanged, compared to its average volume of 2,805,105. The business's fifty day moving average is $22.11 and its two-hundred day moving average is $19.94. The firm has a market capitalization of $75.36 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.70 and a beta of 1.14. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $24.01. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12.

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, topping analysts' consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion during 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%. As a group, research analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Monday, August 11th. ING Group's dividend payout ratio (DPR) is 62.67%.

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.