Wealth Enhancement Advisory Services LLC Has $2.61 Million Stock Position in ING Groep (NYSE:ING)

Wealth Enhancement Advisory Services LLC increased its stake in shares of ING Groep (NYSE:ING - Free Report) by 129.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,677 shares of the financial services provider's stock after purchasing an additional 94,080 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ING Groep were worth $2,612,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Huntington National Bank grew its stake in shares of ING Groep by 1.7% during the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock valued at $549,000 after buying an additional 597 shares during the period. IFP Advisors Inc lifted its holdings in ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after buying an additional 621 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in ING Groep by 20.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after buying an additional 665 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of ING Groep by 1.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock valued at $651,000 after purchasing an additional 716 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of ING Groep by 5.2% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 722 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cfra Research upgraded shares of ING Groep from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ING Groep has a consensus rating of "Moderate Buy".

ING Groep Price Performance

ING stock traded up $0.09 on Thursday, hitting $21.15. 3,141,955 shares of the company's stock traded hands, compared to its average volume of 2,288,861. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $74.00 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 6.42 and a beta of 1.15. ING Groep has a 1-year low of $15.09 and a 1-year high of $21.76. The stock has a fifty day moving average of $19.74 and a 200-day moving average of $17.90.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The firm had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $5.74 billion. On average, analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were given a $0.6526 dividend. This is an increase from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, April 25th. This represents a yield of 5.1%. ING Groep's dividend payout ratio is presently 64.45%.

ING Groep 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.