Envestnet Asset Management Inc. Buys 82,340 Shares of ING Group, N.V. $ING

Envestnet Asset Management Inc. grew its stake in ING Group, N.V. (NYSE:ING) by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,990,736 shares of the financial services provider’s stock after buying an additional 82,340 shares during the period. Envestnet Asset Management Inc.’s holdings in ING Group were worth $51,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in ING Group during the 3rd quarter worth approximately $451,000. Capital Fund Management S.A. increased its stake in shares of ING Group by 14.7% in the second quarter. Capital Fund Management S.A. now owns 612,511 shares of the financial services provider’s stock worth $13,396,000 after purchasing an additional 78,622 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of ING Group by 64.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock valued at $10,233,000 after purchasing an additional 183,891 shares during the period. Logan Capital Management Inc. lifted its stake in shares of ING Group by 11.0% during the 2nd quarter. Logan Capital Management Inc. now owns 220,820 shares of the financial services provider’s stock valued at $4,829,000 after buying an additional 21,853 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ING Group by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock worth $28,753,000 after buying an additional 264,858 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Trading Up 2.2%

Shares of ING stock opened at $30.71 on Tuesday. The company has a market cap of $89.38 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.46 and a beta of 0.80. ING Group, N.V. has a 1 year low of $16.26 and a 1 year high of $31.17. The stock’s 50 day simple moving average is $28.42 and its two-hundred day simple moving average is $26.06. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11.

ING Group (NYSE:ING) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. Research analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a $0.8796 dividend. This represents a dividend yield of 589.0%. The ex-dividend date is Friday, April 17th. ING Group’s dividend payout ratio (DPR) is 28.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ING shares. Citigroup raised ING Group to a “strong-buy” rating in a report on Friday, November 21st. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group began coverage on ING Group in a research note on Tuesday, January 27th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.