Forum Financial Management LP Has $1.07 Million Position in ING Group, N.V. $ING

Forum Financial Management LP raised its stake in shares of ING Group, N.V. (NYSE:ING) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,057 shares of the financial services provider’s stock after buying an additional 1,774 shares during the period. Forum Financial Management LP’s holdings in ING Group were worth $1,073,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Legacy Advisors LLC acquired a new stake in shares of ING Group during the 1st quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after buying an additional 912 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of ING Group during the 2nd quarter valued at $37,000. Maseco LLP acquired a new stake in shares of ING Group during the 2nd quarter valued at $48,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of ING Group during the 1st quarter valued at $55,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ING. Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Weiss Ratings lowered shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, ING Group presently has an average rating of “Moderate Buy”.

ING Group Stock Up 0.2%

ING stock opened at $23.86 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27. The company has a fifty day simple moving average of $24.77 and a 200 day simple moving average of $22.48. The firm has a market cap of $75.08 billion, a PE ratio of 10.99, a PEG ratio of 1.71 and a beta of 1.07.

ING Group (NYSE:ING) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. Sell-side analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.4002 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a yield of 450.0%. ING Group’s payout ratio is currently 31.80%.

About ING Group

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.