Schafer Cullen Capital Management Inc. increased its stake in shares of ING Groep NV (NYSE:ING) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,847,183 shares of the financial services provider’s stock after acquiring an additional 96,273 shares during the quarter. Schafer Cullen Capital Management Inc. owned approximately 0.12% of ING Groep worth $89,479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zions Bancorporation boosted its stake in ING Groep by 1,021.8% during the third quarter. Zions Bancorporation now owns 7,011 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 6,386 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in ING Groep during the third quarter worth $156,000. Diligent Investors LLC bought a new position in ING Groep during the third quarter worth $190,000. Cambridge Investment Research Advisors Inc. bought a new position in ING Groep during the third quarter worth $190,000. Finally, Icon Wealth Partners LLC bought a new position in ING Groep during the fourth quarter worth $202,000. 3.23% of the stock is currently owned by institutional investors and hedge funds.
ING has been the topic of several research analyst reports. UBS reissued a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. Goldman Sachs reaffirmed a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of ING Groep from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, December 5th. Finally, ValuEngine raised shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $18.00.
ING Groep NV (NYSE ING) traded down $0.14 during trading on Tuesday, hitting $17.32. 352,578 shares of the company’s stock were exchanged, compared to its average volume of 3,389,325. ING Groep NV has a 12-month low of $14.55 and a 12-month high of $20.58. The company has a market capitalization of $68,328.60, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.44 and a beta of 1.28. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.09 and a quick ratio of 1.09.
ING Groep (NYSE:ING) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.31 earnings per share for the quarter. ING Groep had a net margin of 27.70% and a return on equity of 10.22%. The firm had revenue of $5.14 billion for the quarter. sell-side analysts forecast that ING Groep NV will post 1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 26th will be paid a $0.5344 dividend. This represents a dividend yield of 5.77%. This is a positive change from ING Groep’s previous semiannual dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 25th. ING Groep’s dividend payout ratio (DPR) is 43.26%.
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ING Groep Company Profile
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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