US Bancorp DE Increases Stock Position in ING Group, N.V. $ING

Key Points

• US Bancorp DE increased its stake in ING Group, N.V. by 45.5% during the second quarter, acquiring an additional 87,464 shares and bringing its total holdings to 279,638 shares valued at $6,116,000.
• Several brokerages recently upgraded their ratings on ING Group, with Barclays and Morgan Stanley both moving from "equal weight" to "overweight," indicating positive sentiment toward the stock.
• ING Group recently disclosed a semi-annual dividend of $0.4002 per share, which translates to an impressive dividend yield of 450.0%, although the company cut the dividend payout ratio to 31.80%.

US Bancorp DE grew its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 45.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 279,638 shares of the financial services provider's stock after acquiring an additional 87,464 shares during the quarter. US Bancorp DE's holdings in ING Group were worth $6,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ING. Bartlett & CO. Wealth Management LLC lifted its stake in shares of ING Group by 14.3% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider's stock worth $87,000 after purchasing an additional 500 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock worth $249,000 after purchasing an additional 530 shares during the period. Drive Wealth Management LLC lifted its stake in shares of ING Group by 6.5% in the 1st quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider's stock worth $227,000 after purchasing an additional 707 shares during the period. MAI Capital Management lifted its stake in shares of ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock worth $82,000 after purchasing an additional 785 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of ING Group by 1.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider's stock worth $1,227,000 after purchasing an additional 786 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ING. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Cfra Research raised shares of ING Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, September 25th. Finally, Weiss Ratings downgraded shares of ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy".

ING Group Trading Down 0.1%

Shares of ING stock opened at $24.01 on Monday. 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 firm has a market capitalization of $75.56 billion, a PE ratio of 11.06, a PEG ratio of 1.72 and a beta of 1.07. The stock has a fifty day simple moving average of $24.76 and a two-hundred day simple moving average of $22.20.

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. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. On average, analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.4002 per share. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio (DPR) is presently 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.

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