US Bancorp DE Has $3.77 Million Stock 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 grew its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,174 shares of the financial services provider's stock after buying an additional 22,153 shares during the quarter. US Bancorp DE's holdings in ING Group were worth $3,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of ING Group by 88.3% during the 4th quarter. Franklin Resources Inc. now owns 290,796 shares of the financial services provider's stock worth $4,557,000 after purchasing an additional 136,342 shares during the last quarter. National Bank of Canada FI increased its stake in shares of ING Group by 15.3% during the 4th quarter. National Bank of Canada FI now owns 26,408 shares of the financial services provider's stock worth $414,000 after purchasing an additional 3,508 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of ING Group by 147.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 331,182 shares of the financial services provider's stock worth $5,190,000 after purchasing an additional 197,509 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of ING Group during the 4th quarter worth about $554,000. Finally, Bank of Montreal Can increased its stake in shares of ING Group by 6.3% during the 4th quarter. Bank of Montreal Can now owns 487,778 shares of the financial services provider's stock worth $7,643,000 after purchasing an additional 28,837 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Cfra Research upgraded 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 note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

ING Group Stock Performance

Shares of NYSE:ING traded up $0.49 on Friday, reaching $24.43. 2,141,466 shares of the company's stock were exchanged, compared to its average volume of 2,763,763. The company has a fifty day moving average of $22.23 and a 200-day moving average of $20.05. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $24.46. The company has a market capitalization of $76.89 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.72 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 issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The company 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%. On average, research analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.4002 per share. 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 (DPR) is presently 62.67%.

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.