US Bancorp DE Buys 87,464 Shares of ING Group, N.V. $ING

US Bancorp DE grew its stake in shares of ING Group, N.V. (NYSE:ING) by 45.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,638 shares of the financial services provider’s stock after buying an additional 87,464 shares during the period. US Bancorp DE’s holdings in ING Group were worth $6,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ING. Bartlett & CO. Wealth Management LLC grew its holdings in shares of ING Group by 14.3% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 500 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of ING Group by 4.4% in the first quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 530 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of ING Group by 6.5% in the first quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 707 shares in the last quarter. MAI Capital Management grew its holdings in shares of ING Group by 23.1% in the first quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 785 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of ING Group by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider’s stock valued at $1,227,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ING has been the subject of a number of recent research reports. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Weiss Ratings lowered shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 15th. Finally, Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

ING Group Stock Down 0.1%

NYSE ING opened at $24.01 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The company has a fifty day moving average of $24.76 and a two-hundred day moving average of $22.20. The firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.72 and a beta of 1.07. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $26.27.

ING Group (NYSE:ING) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The company 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%. On average, analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

ING Group Profile

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.