Hsbc Holdings PLC Invests $5.58 Million in ING Groep (NYSE:ING)

Hsbc Holdings PLC bought a new position in ING Groep (NYSE:ING - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 356,565 shares of the financial services provider's stock, valued at approximately $5,577,000.

A number of other hedge funds also recently made changes to their positions in ING. Roxbury Financial LLC acquired a new stake in ING Groep in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group grew its position in ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,207 shares during the last quarter. Versant Capital Management Inc acquired a new position in ING Groep in the 4th quarter worth about $45,000. IFP Advisors Inc raised its position in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 621 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of ING Groep during the fourth quarter valued at about $55,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

ING Groep Trading Down 0.5 %

Shares of ING Groep stock traded down $0.11 during midday trading on Thursday, reaching $19.27. The company had a trading volume of 2,563,637 shares, compared to its average volume of 2,289,520. The firm has a market cap of $67.39 billion, a PE ratio of 9.00, a P/E/G ratio of 6.42 and a beta of 1.07. The stock has a fifty day moving average price of $19.00 and a 200 day moving average price of $17.17. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $20.79.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, equities analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.6526 dividend. This is an increase from ING Groep's previous semi-annual dividend of $0.17. This represents a yield of 5.1%. The ex-dividend date is Friday, April 25th. ING Groep's payout ratio is presently 60.75%.

ING Groep 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.