US Bancorp DE Boosts Stake in ING Group, N.V. $ING

US Bancorp DE increased its holdings in shares of ING Group, N.V. (NYSE:ING) by 36.2% during the third quarter, HoldingsChannel reports. The fund owned 381,002 shares of the financial services provider’s stock after buying an additional 101,364 shares during the period. US Bancorp DE’s holdings in ING Group were worth $9,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Wealth Management boosted its position in shares of ING Group by 2,757.6% during the 3rd quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 910 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of ING Group by 2,440.8% in the third quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,196 shares during the period. Rexford Capital Inc. acquired a new stake in shares of ING Group in the second quarter valued at about $33,000. Root Financial Partners LLC purchased a new stake in ING Group during the third quarter worth about $34,000. Finally, Private Trust Co. NA grew its position in ING Group by 210.3% during the third quarter. Private Trust Co. NA now owns 1,626 shares of the financial services provider’s stock worth $42,000 after buying an additional 1,102 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ING shares. Jefferies Financial Group started coverage on shares of ING Group in a research report on Tuesday, January 27th. They set a “hold” rating for the company. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Citigroup upgraded ING Group to a “strong-buy” rating in a research report on Friday, November 21st. Wall Street Zen upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Zacks Research raised ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

ING Group Price Performance

ING stock opened at $28.75 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50 day moving average price is $29.05 and its 200 day moving average price is $26.59. The firm has a market cap of $83.66 billion, a P/E ratio of 12.03, a PEG ratio of 0.94 and a beta of 0.80. ING Group, N.V. has a 1 year low of $16.47 and a 1 year high of $31.17.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. On average, sell-side analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a $0.8796 dividend. This represents a yield of 589.0%. The ex-dividend date is Friday, April 17th. ING Group’s dividend payout ratio is 28.87%.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.