Raymond James Financial Inc. Invests $14.38 Million in ING Groep (NYSE:ING)

Raymond James Financial Inc. acquired a new position in shares of ING Groep (NYSE:ING - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 917,366 shares of the financial services provider's stock, valued at approximately $14,375,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank boosted its holdings in shares of ING Groep by 1.7% in 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 boosted its stake 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 acquiring an additional 621 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of ING Groep by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock worth $651,000 after purchasing an additional 716 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings 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 worth $229,000 after purchasing an additional 722 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Groep Stock Performance

Shares of NYSE ING traded down $0.51 during midday trading on Friday, hitting $19.18. 2,009,273 shares of the company's stock were exchanged, compared to its average volume of 2,295,121. ING Groep has a twelve month low of $15.09 and a twelve month high of $20.79. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $67.10 billion, a P/E ratio of 8.96, a PEG ratio of 6.42 and a beta of 1.07. The stock's 50 day moving average price is $18.86 and its 200-day moving average price is $17.12.

ING Groep (NYSE:ING - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) 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%. Equities research analysts anticipate that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.