Todd Asset Management LLC raised its position in ING Groep NV (NYSE:ING) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,383,048 shares of the financial services provider’s stock after purchasing an additional 35,475 shares during the quarter. Todd Asset Management LLC’s holdings in ING Groep were worth $16,790,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group increased its position in shares of ING Groep by 43.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 22,674 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 6,820 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of ING Groep by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 81,925 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 1,865 shares during the last quarter. Creative Planning increased its position in shares of ING Groep by 26.7% in the fourth quarter. Creative Planning now owns 15,732 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 3,312 shares during the last quarter. Tlwm increased its position in shares of ING Groep by 4.0% in the fourth quarter. Tlwm now owns 30,608 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of ING Groep in the fourth quarter valued at about $531,000. 3.46% of the stock is currently owned by hedge funds and other institutional investors.
ING Groep stock traded down $0.25 during midday trading on Wednesday, reaching $11.05. 78,903 shares of the company’s stock were exchanged, compared to its average volume of 3,099,936. ING Groep NV has a 52 week low of $10.21 and a 52 week high of $15.93. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $43.70 billion, a P/E ratio of 6.72 and a beta of 1.23.
The firm also recently declared a semiannual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a dividend of $0.4974 per share. This represents a yield of 8.31%. The ex-dividend date was Thursday, April 25th. ING Groep’s payout ratio is currently 48.78%.
A number of analysts recently issued reports on ING shares. ValuEngine downgraded ING Groep from a “sell” rating to a “strong sell” rating in a research report on Monday, April 29th. Royal Bank of Canada upgraded ING Groep from a “sector perform” rating to an “outperform” rating in a report on Thursday, March 21st. Finally, Zacks Investment Research cut ING Groep from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.00.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Zolmax and is owned by of Zolmax. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://zolmax.com/investing/todd-asset-management-llc-purchases-35475-shares-of-ing-groep-nv-ing/3092096.html.
ING Groep Company Profile
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
See Also: Risk Tolerance
Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Groep NV (NYSE:ING).
Receive News & Ratings for ING Groep Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ING Groep and related companies with MarketBeat.com's FREE daily email newsletter.