Redhawk Wealth Advisors Inc. Acquires Shares of 51,989 ING Group, N.V. $ING

Redhawk Wealth Advisors Inc. acquired a new stake in ING Group, N.V. (NYSE:ING) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 51,989 shares of the financial services provider’s stock, valued at approximately $1,137,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ING. Price T Rowe Associates Inc. MD bought a new stake in ING Group in the first quarter valued at approximately $36,062,000. Millennium Management LLC lifted its position in ING Group by 197.6% in the first quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock valued at $32,661,000 after purchasing an additional 1,106,926 shares during the last quarter. Natixis Advisors LLC lifted its position in ING Group by 25.7% in the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock valued at $83,274,000 after purchasing an additional 869,281 shares during the last quarter. National Bank of Canada FI lifted its position in ING Group by 1,434.0% in the first quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider’s stock valued at $7,932,000 after purchasing an additional 378,693 shares during the last quarter. Finally, Curi RMB Capital LLC bought a new stake in ING Group in the first quarter valued at approximately $6,833,000. Institutional investors own 4.49% of the company’s stock.

ING Group Price Performance

ING opened at $25.33 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $25.81. The stock has a market capitalization of $79.72 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10. The stock’s 50 day moving average price is $24.03 and its 200-day moving average price is $21.58.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. On average, equities research analysts predict that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.4002 per share. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group’s payout ratio is currently 31.34%.

Analyst Ratings Changes

ING has been the subject of several recent research reports. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, ING Group has a consensus rating of “Moderate Buy”.

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.