Wealthstar Advisors LLC Has $1.63 Million Stock Position in ING Group, N.V. $ING

Key Points

• Wealthstar Advisors LLC has increased its stake in ING Group by 21.8%, owning 74,282 shares valued at approximately $1.63 million as of the latest SEC disclosure.
• Recent analyst ratings show a mix of sentiments, with Morgan Stanley upgrading ING Group to "overweight," while Weiss Ratings downgraded it to "hold," resulting in a consensus rating of "Buy."
• ING Group is trading at around $24.02 and reported a quarterly EPS of $0.64, exceeding expectations, yet recently announced a dividend yield of 450.0% with a payout ratio of 31.80%.

Wealthstar Advisors LLC boosted its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 21.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,282 shares of the financial services provider's stock after purchasing an additional 13,272 shares during the period. Wealthstar Advisors LLC's holdings in ING Group were worth $1,625,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new stake in ING Group during the first quarter valued at $28,000. SBI Securities Co. Ltd. boosted its position in ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in ING Group during the second quarter valued at $37,000. Maseco LLP acquired a new stake in shares of ING Group in the second quarter worth about $48,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of ING Group in the first quarter worth about $55,000. Institutional investors and hedge funds own 4.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ING. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Weiss Ratings cut ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Cfra Research raised ING Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, September 25th. Finally, Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ING Group currently has a consensus rating of "Buy".

ING Group Trading Down 1.7%

ING Group stock opened at $24.02 on Friday. 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 business's 50-day simple moving average is $24.73 and its 200-day simple moving average is $22.15. The firm has a market capitalization of $75.60 billion, a PE ratio of 11.07, a PEG ratio of 1.76 and a beta of 1.07. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $26.27.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Equities research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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